Rio Tinto, BHP Complete Land Swap For Big U.S. Copper Project — Update

By Rhiannon Hoyle

A joint venture of the world's two most valuable miners has gained control of former federal land in Arizona needed to build a mine that they say could meet up to a quarter of U.S. copper demand for several decades.

The land swap, which follows years of legal challenges by Native American tribes, environmentalists and outdoor enthusiasts opposed to the Resolution Copper project, comes as the Trump administration seeks to revive U.S. mining and reduce reliance on mineral imports.

Under the exchange, Resolution Copper--a joint venture of Rio Tinto and BHP Group--received more than 2,400 acres of land near Superior, Ariz., above the copper-rich orebody the companies want to mine. In return, it transferred to the government more than 5,400 acres of privately owned land.

The swap, which the miners say was necessary to advance the project, was first proposed in 2005 and signed into law in 2014.

The exchange included a piece of land called Oak Flat, which some Apaches including the San Carlos tribe say has been used for centuries by Native American people and is sacred to them. The planned mine will turn the area into a crater, they say. A spokesperson for the San Carlos tribe couldn't immediately be reached for comment.

Resolution Copper said it has sought to minimize its impact on the Oak Flat area and will maintain public access to a campground there for as long as it is safe to do so.

The head of copper at Rio Tinto, which owns 55% of Resolution Copper and manages the project, said completing the land exchange is a significant milestone for the development. Resolution is one of the world's largest untapped copper deposits.

"As demand for copper continues to grow, projects like Resolution can play an important role in strengthening domestic supply chains," Katie Jackson said in a statement.

President Trump signaled support for the project in August after meeting with the heads of the two miners. "Our Country, quite simply, needs Copper--AND NOW!" Trump said in a social-media post at the time.

"We acknowledge the support of the U.S. government and its growing recognition of the need for domestic sources of copper and other critical materials," Rio Tinto's Jackson said.

Copper is the second most-used material by the U.S. Defense Department, and is needed for aircraft, submarines and missiles, among other uses. It is also a vital building block for other modern technologies, including electric vehicles, renewable technology infrastructure and data centers.

"The national security of America depends on our ability to harness the abundant natural resources we are blessed with in this country," U.S. Agriculture Secretary Brooke Rollins said Monday.

The land swap followed a decision in the U.S. Court of Appeals for the Ninth Circuit on March 13 rejecting the latest requests to block the exchange.

Resolution Copper will spend roughly $500 million over the next two years on drilling and other activities to advance the project, Rio Tinto said.

The miner's chief executive, Simon Trott, called Resolution an "incredible project" with "great geology" in an interview with The Wall Street Journal last month. He said it is the company's primary focus for growth in the U.S.

The project could be "a game changer for U.S. domestic supply for hundreds of industries," said BHP's Americas president, Brandon Craig.

"It is positioned to be an engine for economic growth in the U.S--creating thousands of high value local jobs and billions in economic activity nationwide," he said.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

March 16, 2026 22:09 ET (02:09 GMT)