Investing.com -- The Trump administration gave the nod to the Resolution Copper Project, one of the world’s largest undeveloped copper ventures, late Friday. This project, located in the Copper Triangle, 60 miles east of Phoenix, Arizona, is jointly owned by BHP and Rio Tinto (NYSE:RIO), with BHP possessing a 45% stake and Rio Tinto owning the remaining 55%.
Resolution Copper has the potential to become North America’s biggest copper producer. It could provide more than a quarter of the U.S. copper demand, aligning with Trump’s strategy to enhance U.S. mining.
However, the project has encountered resistance due to its projected environmental impact. The construction of the mine could create a crater that would engulf the Oak Flat site, a place of worship for Arizona’s San Carlos Apache (NASDAQ:APA). This potential outcome has sparked opposition from 21 out of the state’s 22 Native American tribes as well as the National Congress of American Indians.
Despite this, Secretary of the Interior Doug Burgum celebrated the project’s advancement. He stated, "After stalling for nearly three decades, it only took three months to take action to restart Resolution Copper Mine in Arizona. Will be one of the largest copper producers in the US. That’s the kind of results President Trump has delivered to make America Energy Dominant again!"
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