Rio Tinto hopes Trump will clear path for Resolution copper project

Rio Tinto (ASX, LON, NYSE: RIO) is optimistic that US President Donald Trump will expedite the final permits approval for its long-delayed Resolution copper project in Arizona.

Speaking at the CRU World Copper Conference in Santiago, Rio Tinto’s copper chief executive Katie Jackson said growing US interest in strengthening the copper supply chain could help advance the stalled mine.

“We hope that will be part of getting projects like Resolution to move because it has historically been a long process,” she told attendees.

The mining giant has spent more than a decade navigating a complex permitting process. The Resolution mine, a joint venture with BHP (Rio owns 55%, BHP 45%), could supply over a quarter of the US’ copper demand for decades. 

Timeline – Rio Tinto’s 26-year struggle to launch Arizona’s Resolution copper project

Its progress, however, remains stalled in US courts due to opposition from Native American groups. The Apache Stronghold asserts that the Oak Flat, federally owned land in Arizona containing copper deposits, is sacred to their deities and has been revered by their ancestors for generations.

They also claim developing the mine would create a massive crater on land where religious ceremonies are held. The US Supreme Court is set to hear and rule on the case in late June. Trump’s emergency powers upend that process.

Rio Tinto chief executive officer Jakob Stausholm has said the company remains in dialogue with Indigenous communities and is committed to the United Nations principles requiring full consent before mining on traditional lands.

The Resolution copper project is one of several large-scale investments that could benefit from Trump’s proposed regulatory changes, including expedited permitting for projects exceeding $1 billion.

Copper ambitions

Rio Tinto has been aggressively expanding its copper portfolio to meet surging global demand, which analysts expect to outstrip supply. Its Oyu Tolgoi mine in Mongolia, which began underground production in 2023, is projected to become the world’s fourth-largest copper mine by 2030.

To strengthen its position, Rio has partnered with major players including Chile’s state-owned Codelco and Canada’s First Quantum Minerals to develop Peru’s La Granja project, ranked as the world’s fifth-largest copper deposit.

It is also investing in cleaner extraction technologies, such as Nuton, a bioleaching method developed with Arizona Sonoran Copper (TSX: ASCU) to recover copper from tailings.

Copper’s strategic importance continues to grow. This week, Barrick Gold (TSX: ABX) (NYSE: GOLD) signalled it may rebrand as Barrick Mining Corp. to reflect its increasing focus on the metal.

(With files from Reuters)