September 09, 2022
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Developers of what would be North America's largest copper mine told senators last week that further delays in Congress could result in the abandonment of plans for the southeastern Arizona project, which is poised to create 3,700 mining jobs and 3,000 construction jobs.
Resolution Copper Co. Vice President Jon Cherry said that lingering uncertainty in Congress surrounding approval of a land exchange to allow the mine's development could push parent company Rio Tinto—which has already spent $750 million studying the feasibility of the mine—to cut funding on the $6 billion project.
Resolution Copper has been seeking the land exchange since 2005, and company officials say the mine could generate nearly $20 billion in tax revenue to federal, state and local governments.
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