Rio Tinto says Trump’s copper zeal might OK Resolution

Rio Tinto (ASX, LSE, NYSE: RIO) is optimistic that United States President Donald Trump will approve the final permits for its long-delayed Resolution copper project in Arizona.

Speaking at the CRU World Copper Conference in Santiago, Rio Tinto’s copper CEO Katie Jackson said growing U.S. interest in strengthening the copper supply chain could help advance the stalled mine, Reuters reported on Tuesday.

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

However, its progress remains stalled in U.S. courts due to opposition from Native American groups. The Apache Stronghold asserts that Oak Flat, a federally owned property in Arizona containing copper deposits, is sacred to their deities and has been revered by their ancestors for generations.

Supreme Court 

They also claim developing the mine would create a massive crater on land where religious ceremonies are held. The U.S. Supreme Court is set to hear and rule on the case in late June.

Rio Tinto CEO 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.

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.

Copper ambitions

To strengthen its position, Rio has partnered with major players including Chile’s state-owned Codelco and Canada’s First Quantum Minerals (TSX: FM) 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 to reflect its increasing focus on the metal.