Rio Tinto Approves $144 Million Arizona Copper Investment
Rio Tinto has approved $144 million to advance the Resolution copper mine project near Superior, Arizona, after the federal government transferred the required land.
Updated on Nov. 11, 2026 in Manufacturing
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Rio Tinto approved a $144 million investment to advance the Resolution copper mine project in Arizona. The funding will support feasibility studies and engineering for mining equipment and water treatment facilities.
Why it matters
The investment reflects Rio Tinto's increased focus on copper amid rising demand driven by power grids, electrification, and AI infrastructure. It also marks a step toward expanding domestic copper supply for Arizona and the broader United States.
Rio Tinto will contribute $79 million to the $144 million investment, holding 55% of the project while BHP holds 45%. Total project cost beyond feasibility and engineering work has not been disclosed.
The players
Rio Tinto
Rio Tinto is the world's largest iron ore producer and holds a 55% stake in the Resolution copper project, with half-year profit boosted by strong copper revenue growth.
BHP
BHP is a major global mining company holding a 45% interest in the Resolution copper mine project.
Resolution Copper
Resolution Copper is the joint venture developing the Resolution copper deposit near Superior, Arizona.
The details
The investment will fund feasibility studies and engineering for mining equipment and water treatment facilities. The copper deposit lies 5,000 to 7,000 feet underground near Superior, and the federal government recently transferred the required land after a lengthy legal dispute.
Timeline
August: Resolution Copper awarded a $110 million contract for exploration and underground development work.
Recently: Federal government transferred land required for the mine.
Mid-2030s: Rio Tinto aims to begin production.
Market Landscape
Rio Tinto's half-year profit was boosted by strong copper revenue growth, and this $144 million investment extends that momentum by committing capital to a major new domestic copper source. The move positions the company to compete for a growing share of copper demand tied to electrification and AI infrastructure.
Once production begins, the joint venture expects thousands of jobs and roughly $1 billion in annual revenue for Arizona. The next phase of work is expected to add approximately 50 jobs in the near term.
The takeaway
Copper's role in electrification and AI infrastructure is pulling major miners toward domestic projects that take years to reach production. Residents and investors should watch the feasibility work and the mid-2030s production timeline for concrete milestones.
Further reading
For related context, explore Manufacturing coverage across the industrial sector.
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Should Arizona allow large copper mines near sacred Indigenous sites?
