Rio Tinto has committed $302 million of additional capital to advance its Resolution Copper project in the US state of Arizona, a mine that the company envisages will provide raw materials to help fuel the electromobility boom.
When fully operational, Resolution - a joint venture in which Rio Tinto has a 55% stake and BHP Billiton has the remainder - has the potential to supply nearly 25% of the United States' copper demand. "The rise of electric vehicles, battery storage, new transmission technology and other green energy innovations are highly copper intensive. We...