Rio Tinto $RIO (-2.04%) wants to increase its investments in the USA.
"We have a strong desire to invest more in the US, particularly in copper," said Katie Jackson, head of Rio Tinto's copper business, in an emailed statement today.
The Trump administration has recognized the need to develop domestic sources of copper and other key materials. The US President had previously signed an executive order to streamline the permitting process and increase government funding for mineral projects.
Rio Tinto, the world's second-largest mining company by market capitalization, is the majority owner and operator of the Resolution copper project in Arizona. According to estimates, it could cover up to a quarter of the current demand for the industrial metal in the USA.
Rio Tinto also operates the Kennecott copper operation in Utah. The underground mine there is being expanded, after a conversion of the smelting plant was completed in 2023.
Rio Tinto also mines several other materials in the USA, including lithium, borates and tellurium.