I think it is interesting to note that RIO has one of the largest copper deposits in the world with their Resolution copper mine in Arizona. The project is a deep-seated Porphyry deposit and a joint venture with BHP with inferred resource of 1.264 billion tonnes at 1.47% copper. The deposit sits 1,300 meters below the surface. RIO & BHP have spent billions to date getting the mine ready to start but cannot, due to environmental and native title roadblocks.
The last news I can find on the project moving forward is a 30th September 2021 hot news article stating RIO still trying to meet native American leaders to find a win-win compromise on the project. Mabey RIO is looking for an “easy dig” low-cost copper project to hedge against the costs and delays on the Resolution mine whilst taking advantage of the current and near future Copper price rises.
Only time will tell….
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