Market Chatter: Rio Tinto Plans to Increase US Investments Focusing on Copper

07:58 AM EDT, 03/21/2025 (MT Newswires) -- Rio Tinto (RIO) is seeking to increase US investments, prioritizing copper after US President Donald Trump signed an executive order to streamline permitting processes and increase government funding for mineral projects, The Wall Street Journal reported Friday, citing Katie Jackson, the head of the company's copper business.

"It's clear that under the Trump administration, there is an increasing recognition of the need for domestic sources of copper and other critical materials in the U.S., to support manufacturing and the country's energy future," Jackson wrote in an email to The Wall Street Journal.

President Trump's order includes provisions to ramp up U.S. minerals production and lower America's reliance on supplies from other nations.

Rio Tinto is a majority owner of the Resolution copper project in Arizona and also operates the Kennecott copper operation in Utah, where it has been expanding mining operations and also completed a rebuild of its smelter in 2023.

Rio Tinto didn't immediately respond to a request for comment from MT Newswires.

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