Trump Meets with BHP, Rio Tinto CEOs to Boost US Copper Production
US President Donald Trump has met with the CEOs of BHP Group and Rio Tinto Group, the world’s two largest mining companies, to discuss the Resolution Copper project in Arizona, which could supply the US with a quarter of its copper demand for decades to come.
The meeting, which took place at the White House, focused on the project’s potential to provide domestic supply and the industry’s capacity to deliver long-term domestic supplies of copper and other critical minerals, according to Rio Tinto.
The company’s current CEO, Jakob Stausholm, and his incoming replacement, Simon Trott, attended the meeting, along with BHP CEO Mike Henry and Secretary of the Interior Doug Burgum.
US Push for Domestic Copper Production
The Trump administration has made the revival of US metals and minerals production a key priority, including copper, a vital metal for the energy transition and conventional uses.
As part of this push, Washington imposed tariffs on a wide range of copper products earlier this year, although flows of refined material were not covered.
The Resolution Copper project, which has been delayed for decades due to permitting, environmental concerns, and litigation, could supply the US with 25% of its annual copper needs for as many as 40 years, according to Rio Tinto.
However, the project has faced opposition, with a court recently delaying a land swap key to the development.
Court Delay and Trump’s Criticism
Trump criticized the court’s decision on social media, saying that the US needs copper and that the delay would affect 3,800 jobs.
Benchmark copper futures have advanced about 11% this year, and last traded above $9,708 a ton on the London Metal Exchange.
The meeting between Trump and the mining executives comes as the US seeks to boost its domestic copper production and reduce its reliance on imports.
The push for domestic production is part of a broader effort to revive the US metals and minerals industry, which has faced challenges in recent years.