MELBOURNE: The US government has awarded fast-track status to a controversial copper mining project in Arizona owned by the world’s two biggest mining companies, Rio Tinto Group and BHP Group.
The Resolution Copper mine is among a list of 10 projects to be granted “Fast-41” status, according to a government statement last Friday.
Fast-41 was signed into law under former President Barack Obama to streamline approval processes.
Additionally, the Trump administration said the act would reduce the country’s reliance on mineral resources from foreign nations.
The development comes as critical minerals become a central part of the growing trade war between Washington and Beijing.
China is the dominant producer of metals vital to making strategic products such as fighter planes, nuclear rods, munitions, smartphones and electric vehicle batteries.
Resolution Copper, one of the largest deposits in the United States of the key metal used in electrification, would be capable of supplying 25% of annual domestic demand for the next four decades, Rio Tinto estimated.
Rio Tinto holds a controlling 55% ownership, while joint-venture partner BHP owns the remainder.
The underground mine has been marred by delays for years as it faced opposition from local indigenous groups, who say the project is located on sacred ground. — Bloomberg
