Rio Tinto to Start Underground Copper Mining at Kennecott in US
September 27 2022 - 4:43AM
Dow Jones News
By Michael Susin
Rio Tinto PLC said Tuesday that it has approved a $55 million
investment to start underground mining and expand production at its
Kennecott copper operations in Utah, United States.
The Anglo-Australian mining company said that it will initially
focus on the Lower Commercial Skarn area, which is expected to
deliver around 30,000 tons of mined coppers through the period to
2027.
The company said that the first ore is expected to be produced
in early 2023, and full production to be achieved in the second
half of the year.
The company added that feasibility studies are also being
progressed to extend open pit mining beyond 2032.
Shares at 0807 GMT were up 87.0 pence, or 1.9%, at 4,786
pence.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
September 27, 2022 04:28 ET (08:28 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Rio Tinto (ASX:RIO)
Historical Stock Chart
From Dec 2024 to Jan 2025
Rio Tinto (ASX:RIO)
Historical Stock Chart
From Jan 2024 to Jan 2025
