Rio Tinto commits additional $302 million for Resolution Copper project
FILE PHOTO: A sign adorns the building where mining company Rio Tinto has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File Photo
The funds will be used bank-roll additional drilling, ore-body studies, infrastructure improvements and permitting activities with the miner aiming to advance the project to the final stage of the permitting phase, it said in a statement to the Australian Stock Exchange. “The comprehensive permitting process is well underway with the environmental impact study on track to be completed next year according to the regulators schedule,” Jacques added.
“The rise of electric vehicles, battery storage, new transmission technology and other green energy innovations are highly copper intensive. We need to prepare now to meet this future demand,” Jacques said.
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