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Rio Tinto Invests $1.5bn to Continue Production at Kennecott Copper to 2032

04 Dec 2019  |  08:25:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Rio Tinto invests $1.5 billion at Kennecott copper

Rio Tinto approved a $1.5bn investment (100% basis) to continue production at its Kennecott copper operation in the US. The investment over the next six years will extend operations at Kennecott to 2032. The investment will further extend strip waste rock mining and support additional infrastructure development in the second phase of the South Wall Pushback project, to allow mining to continue into a new area of the ore body and deliver 1mt of refined copper between 2026 and 2032. This additional investment will commence in 2020 and is included in its group capital expenditure guidance of $7.0bn in 2020 and $6.5bn in both 2021 and 2022 as development capital.

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