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Article: Rio Tinto Adds $652 Million to Resolution Copper Funding
- Article from:
- Engineering and Mining Journal
- Article date:
- September 1, 2008
- Author:
CopyrightCopyright Mining Media, Inc. Sep 2008. Provided by ProQuest LLC. (Hide copyright information)
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Rio Tinto has approved a further $652 million to fund on-going pre-feasibility studies of the deep underground Resolution copper project near Superior, Arizona. The operating company, Resolution Copper Mining LLC, is owned 55% by a subsidiary of Rio Tinto and 45% by BHP Billiton. The Rio Tinto subsidiary, Resolution Copper Co., is the project manager. Rio Tinto's share of the new funding will be $341 million. Pre-feasibility studies are expected to be completed by 2012, and production is expected to start by 2020, eventually ramping up to 500,000 mt/y of copper.
On May 29, 2008, Resolution Copper reported a JORC-compliant inferred resource of 1.34 billion mt, containing 1.51% copper and ...