The Trump administration said on Thursday that it would approve a land swap to allow Rio Tinto and BHP to build one of the world's largest copper mines. $RIO (+2,18 %) and BHP $ABHPG despite concerns from Native Americans that it would destroy a site of religious value.

The move is likely to exacerbate tensions between indigenous groups campaigning to preserve historic sites and Western governments seeking to boost production of key minerals and offset China's dominance in the sector.

The U.S. Forest Service, part of the Department of Agriculture, said it would publish an environmental report within 60 days, which is required for the land swap under the Resolution Copper project.

Congress and then-President Barack Obama approved the mine in 2014 after it was included in a must-pass military funding bill at the last minute with the requirement to publish an environmental report.

The underground mine - which President Donald Trump approved in his first term before his successor Joe Biden changed his mind - would supply more than a quarter of the US's copper needs and would be a key part of Trump's plan to boost mining in the US.

Copper is used in construction, transportation, electronics and many other industries. The United States imports about half of its copper needs each year.

However, building the mine would create a sinkhole that would swallow up the Oak Flat area where the San Carlos Apache live in Arizona. All but one of the state's 22 Native American tribes and the National Congress of American Indians have spoken out against the project.

Apache Stronghold, a non-profit group made up of the San Carlos Apache tribe and conservationists, petitioned the US Supreme Court last September to block the land swap. The court has not yet decided whether it will hear the case.

If the court accepts the case, the Forest Service could reevaluate its approach to the land swap on Thursday," it said.

"The U.S. government is in a hurry to give away our spiritual homeland before the courts can even make a judgment, just as it has been in a hurry to wipe out Native people for generations," said Wendsler Nosie, a leader of Apache Stronghold.

The group and its attorneys from the Becket Fund for Religious Liberty contend that the government would violate the First Amendment's guarantee of religious freedom if the mine is developed.

"This makes clear what is at stake: If the court doesn't act now, Oak Flat could be relocated and destroyed before justice is served," said Luke Goodrich, an attorney for Becket.

Representatives for the San Carlos Apache could not immediately be reached for comment.

Rio Tinto said the move was a "positive step forward" and that it would continue to work on the project, in which the company and BHP have already invested more than $2 billion. They have not yet produced any copper.

"The Resolution Copper mine is critical to securing America's energy future and infrastructure needs through a domestic supply of copper and other key minerals," a Rio spokesperson said.

BHP, which owns 45% of the project while Rio holds 55%, said: "Resolution is committed to engaging in open dialog with the local community and Native American tribes to responsibly advance the project."

The Forest Service's move was welcomed by Mila Besich, the Democratic mayor of Superior, Arizona, the town closest to the Resolution project.

"This is a milestone in a very long process," Besich said. "This is a good thing for our city."

Rio has said it plans to keep all of Resolution's copper in the U.S. if the mine is approved. The company already controls one of the two copper smelters in the U.S.

Rio Tinto $RIO (+2,18 %) and AMG Metals Materials (AMG M&M), an energy transition solutions provider, have signed a Memorandum of Understanding to jointly explore the feasibility of developing an integrated low-carbon aluminum project powered by renewable energy in India. AMG M&M is promoted by the two founders of Greenko and AM Green.

Together, the parties will explore the potential development of a primary aluminum smelter with a capacity of up to 1 million tonnes per annum (Mtpa) and alumina production of 2 Mtpa, both powered by renewable wind and solar energy supported by pumped hydro storage. The development includes a study to evaluate a potential primary aluminum smelter with a capacity of 500,000 tonnes per annum in a favorable location in India.

Rio Tinto Aluminum CEO Jérôme Pécresse said: "This study is an important step in our ambition to grow our global low-carbon aluminum footprint while exploring new project approaches and opportunities in emerging markets. The partnership with AMG Metals Materials allows us to explore how we can develop cost-effective and responsible aluminum production based on renewable energy. With its rapid economic growth and strategic location, India is a compelling location for this potential project and is in line with our long-term vision of a more diverse and resilient global aluminum business.

As part of the study, AMG M&M will explore a firm renewable energy solution with Greenko, while Rio Tinto will explore a commercial solution for alumina. The study will also evaluate smelting technology options to determine the most cost-effective solution for the project.

Mahesh Kolli, Group President of AMG Metals Materials and Greenko, said: "Over the last few years we have been able to deliver a variety of decarbonization solutions that include power, molecules, chemicals and fuels. We are delighted to now extend this to the materials sector. This MoU could deliver much-needed low-carbon metals at scale to drive decarbonization initiatives in global supply chains in the automotive, construction, packaging and many other industries."

The mining group Rio Tinto $RIO (+2,18 %) felt only a limited impact on its raw materials in the first quarter from new tariffs imposed by US President Donald Trump on steel and aluminum imports. "However, it is uncertain how the tariffs will affect commodity markets in the future," the company said.

Rio Tinto is the largest foreign supplier of aluminum to the U.S., primarily from smelters it operates in neighboring Canada. The company has previously stated that it has contingency plans to sell aluminum to other markets, such as Europe.

On Wednesday, Rio Tinto said it expects the U.S. economy could be hurt by the tariffs. It noted that trade flows in borates - used in fertilizers, batteries and smartphone screens, among other things - "are already being adjusted in response to the tariffs imposed in the US and China".

According to the company, Rio Tinto's production in California, for example, covers around 30 percent of global demand for refined borates.

Iron ore shipments from Rio Tinto's $RIO (+2,18 %) huge Australian mining operations are likely to be at the lower end of the mining company's estimates this year following the disruptions caused by four cyclones in recent months.

The mining group, which makes most of its profits from mining the steelmaking material in Australia's remote Pilbara region, said on Wednesday that it shipped 70.7 million tons of iron ore from these operations in the three months to March.

This is 9 percent less than in the same period last year and 17 percent less than in the immediately preceding quarter. It is the company's weakest first-quarter result since 2019.

Rio Tinto, the world's second-largest mining company by market value, was hit by disruption and damage from cyclones in northwest Australia in early 2025. The company recently estimated that it lost around 13 million tons of supply due to tropical cyclones Tahlia, Vince, Zelia and Sean.

The company said it still expects to ship between 323 and 338 million tons this year, confirming statements made in December. However, exports could be at the lower end of the range due to these losses.

The first quarter result disappointed analysts, who had expected shipments of around 73.3 million tons according to a consensus estimate compiled by Visible Alpha.

Rare Earths Limited is pleased to announce that it has entered into a binding agreement with Rio de Contas Desenvolvimentos Minerais Ltda (Rio Tinto Brazil) to amend the Amargosa Tenement Acquisition Agreement.

Amargosa Bauxite Project

Amargosa is a large, advanced-stage bauxite project acquired by Rio Tinto in 2023 and is adjacent to selected BRE rare earth properties in Bahia, Brazil.

The large bauxite project benefits from more than ten years of exploration by Rio Tinto, including 56,919 meters of drilling in 4,257 holes and detailed geological datasets.

Exploration to date has confirmed thick, high-grade bauxite zones from surface, including intercepts such as 27.5 meters with a total available alumina grade of 51.3% and minor amounts of reactive silica and iron.

BRE and Rio Tinto $RIO (+2,18 %) have signed a binding agreement to replace the existing US$40 million bauxite milestone payment on the Amargosa bauxite project with a fixed royalty of US$1.00 per wet tonne on future bauxite sales.

Air Products & Chemicals $APD (+0,85 %)

Ecolab $ECL (+1,64 %)

CRH $CRH (-0,13 %)

Linde $LIN (+1,12 %)

Sherwin-Williams $SHW (+0,84 %)

Rio Tinto (With $RIO (+2,18 %) I am more interested in the attractive valuation, dividend and investments in future areas such as copper/lithium)

In the basic materials sector, stock selection was not easy for me. I had to adjust my usual quality standards somewhat and in some cases also make compromises (see above 🤓). The sector is very cyclical, which makes it more difficult to find companies with consistently stable performance. Many key figures are heavily distorted by fluctuations in commodity prices, economic influences or geopolitical factors. At the same time, however, it also offers interesting opportunities for long-term investors, especially if an anti-cyclical entry is successful 🫣.

Which companies do you see as particularly promising for a long-term investment?

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I am also fascinated by the idea of profiting from gold actively and with dividends. That's why I've been looking at gold stocks and have my eye on Franco-Nevada and Agnico Eagle in particular. Neither of them made it into the selection above, but I wanted to mention them anyway. Even though I am not yet invested, I will definitely continue to monitor both stocks.

$FNV (-0,68 %) Franco Nevada is a royalty company with low operating risk but high gold price leverage.

$AEM (-0,65 %) Agnico Eagle is a classic mining company with a good balance sheet and a decent dividend history.

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