Rio Tinto (ASX:RIO) invests $1.5b at Kennecott copper

Company News

by Rachael Jones

Rio Tinto (ASX:RIO) has approved a $1.5 billion investment over the next six years to continue production at its Kennecott copper operation in Utah in the United States.

This will extend operations at Kennecott to 2032.

The investment will further extend strip waste rock mining and support additional infrastructure development in the second phase of the South Wall Pushback project.

This will allow mining to continue into a new area of the ore body and deliver close to one million tonnes of refined copper between 2026 and 2032.

Shares in Rio Tinto (ASX:RIO) are trading 1.77 per cent lower at $95.30.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.