Rio Tinto (ASX:RIO) and BHP (ASX:BHP), have completed a long-contested land swap in Arizona.
The exchange marks a critical turning point for the Resolution Copper Project, a joint venture managed by Rio Tinto (55%) alongside BHP (45%).
By overhauling the site’s ownership structure, the partners have gained control of approximately 2,400 acres of former federal land near Superior, situated directly above one of the planet’s largest untapped copper deposits.
In a reciprocal arrangement mandated by 2014 legislation, the joint venture transferred more than 5,400 acres of high-value private conservation land to the US government.
The milestone arrives amid a concerted push by the Trump administration to revitalise domestic mining and curb reliance on foreign imports.
Proponents suggest the site could eventually satisfy up to 25% of total US copper demand for several decades, a vital component for modernising power grids and supporting renewable energy infrastructure.
However, the project’s path remains shadowed by nearly two decades of friction.
Native American tribes, environmental advocates, and outdoor enthusiasts have consistently challenged the development, citing concerns over the impact on sacred sites and local ecosystems.
Despite these hurdles, Rio Tinto’s Head of Copper, Katie Jackson, characterised the swap as a "significant milestone," emphasising that the project is poised to strengthen domestic supply chains at a time of escalating global demand.
At the time of reporting, the share prices of Rio Tinto and BHP are $156.54 and $49.57, respectively.