Rio Tinto invests $498M in its Kennecott copper operation in Utah RioTinto
- Rio Tinto announced today it is investing in its Kennecott operation near Salt Lake City, Utah, to strengthen its supply of copper in the United States by increasing production from underground mining and improving the health of key assets.
Production from the NRS will commence in 2024 and is expected to ramp up over two years, to deliver around 250 thousand tonnes of additional mined copper over the next 10 years alongside open cut operations. Underground production within LCS started in February 2023, and is expected to deliver a total of around 30 thousand tonnes of additional mined copper through the period to 2027.
Rio Tinto added that a $300 million rebuild is also underway at the Kennecott smelter. The rebuild is the largest in Kennecott's history and commenced in May 2023.
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