FX.co ★ Rio Tinto faces opposition from US authorities over copper mine

Copper miner Rio Tinto has recently been engaged in a dispute with US authorities over land above a copper reserve.

The key point of the dispute is that the deposit holding over 18 million tons of copper is considered sacred to the Apache tribe of North American Indians. This situation seems unbelievable to many residents. Moreover, copper mines can be used for the production of more than half of electric cars in the US. However, Rio Tinto Plc faced opposition from the US Forest Service. It suspended the agreement to swap the company's nearby land for the land above the copper reserves.

The Biden administration plans to postpone the decision to open the new mine until the House elections in November 2022 despite considerable efforts to switch to a greener economy and widespread use of electric vehicles. It is reported that even if Rio Tinto Plc receives a production permit in the near future, the project will not be completed for at least another decade.