In a high-stakes meeting in Washington, the top brass of Rio Tinto (ASX:RIO) and BHP (ASX:BHP) have sat down with Donald Trump to discuss the future of their long-delayed Resolution Copper project in Arizona.
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The Australian reported Rio CEO Simon Trott, outgoing boss Jakob Stausholm, and BHP’s Mike Henry met President Trump in the wake of a U.S. court decision that threw a wrench into a crucial land exchange needed to advance the mine.
Trump didn’t mince words: “A Copper Mine in Arizona, ‘Resolution’, was just delayed by a Radical Left Court,” he posted on Truth Social, slamming the opposition as “Anti-American” and accusing activists of working in the interests of foreign copper competitors.
At the heart of the issue is the location of Resolution mine – Oak Flat – which is on a sacred site for the San Carlos Apache and other Native American tribes. Environmental groups have joined the tribes in opposing the grand mining project, which they have said threatens both the land and cultural heritage.
But the Australian miners are pushing back, hard.
“This is merely a temporary pause. We are confident the court will ultimately affirm the district court’s well-reasoned orders,” a Resolution spokesman said today.
“This underscores our shared commitment to develop Resolution Copper. The mine is one of the largest untapped, high-grade copper resources in the U.S., with the potential for thousands of high-value local jobs and billions in economic activity,” Henry said after departing the White House.
The project, split between Rio and BHP 55% and 45% respectively, has been in the works for over a decade. It’s expected to produce around 20 million tonnes of copper over 40 years; no small deal in a world scrambling for critical minerals.
“Rio Tinto has a 150-year history in the US and is a significant producer of copper, as well as lithium, tellurium, gold, silver, molybdenum, borates, and recycled aluminium,” Rio’s spokesperson highlighted.
Still, the path forward isn’t smooth. Native American groups and environmentalists remain staunchly opposed, and legal hurdles are far from over. But for now, the mining giants are keeping their shovels ready and their hopes high.
RIO and BHP have been trading flat at 15.5cps in afternoon trade.
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