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Rio Tinto, Northern Dynasty projects expected to get U.S. approval under Trump
By Leslie Hook and Pilita Clark
Financial Times, London
Wednesday, January 22, 2025
Rio Tinto is betting Donald Trump will finally give the green light to its giant copper mine in Arizona after a 12-year permitting battle, as part of a wave of domestic projects expected to be approved by the new U.S. administration.
"I do think that we have really good chances now to progress that project," said Jakob Stausholm, chief executive of the London-listed miner, in an interview with the Financial Times, which will be broadcast today. "We have made a lot of progress."
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The Resolution mine, which first submitted a mining plan to the US Forest Service in 2013, would be the biggest copper mine in North America once fully developed.
The project, which is 55% owned by Rio Tinto and 45% owned by Australian-based BHP, is a deep underground mine that would produce as much as 1 billion pounds of copper a year, meeting 25% of U.S. needs.
"If they want to be less dependent on importing a critical mineral like copper, it would be a good thing," Stausholm said.
The mine is one of several expected to benefit from the policies of Trump, who declared last year that he would speed up regulatory approvals for any company investing more than $1 billion in the U.S. ...
The Pebble Project in Alaska, a copper-gold project owned by Toronto-listed Northern Dynasty Minerals, is also expected to get its final approval under the new administration, according to industry executives.
... For the remainder of the report:
https://www.ft.com/content/a022764b-59a6-4292-bdee-6379d0200564
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