Rio Tinto: approves investment in Arizona copper mine

(CercleFinance.com) - Rio Tinto on Monday approved a plan to invest 302 million dollars in a copper mine project in Arizona, aiming to bring produce copper from the existing deposit.


The investment will fund additional drilling, ore-body studies, and infrastructure improvements as the global miner seeks to progress to the final stage of the permitting phase, it said.

When fully operational, the mine will be able to potentially meet almost 25% of the demand for copper in the United States, Rio Tinto said.

Upon this investment, Rio Tinto and project partner BHP Billiton will have invested over 2 billion dollars to develop and operate the project since 2004.

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