Resolution Copper Awards $110M in Drilling Contracts for Arizona Mine

Resolution Copper has awarded approximately $110 million in contracts for drilling and underground development at its proposed copper mine in Arizona. The mine is one of the world's largest undeveloped copper deposits, with a planned investment program valued at $500 million.

The contracts were awarded to Major Drilling America and Redpath USA Corporation. Major Drilling will undertake deep-hole directional diamond core drilling over the next two-and-a-half years, including drilling from the surface and from approximately 6,800 feet underground. Four large surface drilling rigs are planned for the programme, with two already on site and another two expected by the end of 2026.

Redpath USA Corporation will undertake the first phase of underground development, including converting two existing shafts, each approximately 7,000 feet deep, for development activities. The contractor will also install underground infrastructure, construct a mine station at around 6,800 feet below surface and develop approximately 1,500 feet of new tunnels and supporting facilities.

The project is jointly owned by Rio Tinto with a 55% stake and BHP with 45%. If developed, Resolution Copper is expected to have the capacity to meet up to a quarter of annual US copper demand. However, a final investment decision remains subject to further data collection, permitting and partner approvals.