Rio Tinto invests nearly $1 billion in Kennecott as EVs fuel demand for copper

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Rio Tinto invests nearly $1 billion in Kennecott as EVs fuel demand for copper
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The Kennecott mine and smelter on the west side of Salt Lake County is getting a $920 million investment as demand for copper grows.

Operations in the Bingham Copper Mine, Tuesday, Sept. 27, 2022. Mine operator Kennecott has announced it was investing almost a billion dollars and opening a second underground mine as copper demand rises.This story is part of The Salt Lake Tribune’s ongoing commitment to identify solutions to Utah’s biggest challenges through the work of the Innovation Lab.

As required by Australian law, Rio Tinto characterized the copper in the North Rim Skarn as “inferred,” meaning the company expects to find sufficient copper but it hasn’t been verified yet. “There is no certainty that further exploration work will result in the determination of indicated mineral resources or that the production target itself will be realized,” the company said in its news release.

But the mine and smelter also have raised concerns from environmental groups because of the large quantities of toxic materials produced. The only other copper smelter in the country is in Globe, Ariz., which is far from Arizona’s population centers.. The massive vehicles have detachable batteries so they can be swapped out without charging delays.

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