Rio Tinto Says $144 Million Investment Approved for Arizona Copper Project

11:00 AM EST, 11/05/2026 (MT Newswires) -- Rio Tinto (RIO) said Thursday it approved a $144 million investment by Resolution Copper to advance the next phase of development at its Arizona project, home to one of the world's largest untapped copper deposits. The capital builds on the completion of a land exchange in March and comes in addition to roughly $500 million in preliminary spending announced at that time, Rio Tinto said. The program will support feasibility studies, final engineering work, exploration drilling and the purchase of underground development, production and electrical equipment, as well as new water treatment facilities, Rio Tinto said. Price: 83.48, Change: -1.08, Percent Change: -1.28