McEwen Copper seeks $2.5bn for Los Azules project in Argentina
Los Azules is due to receive a key environmental permit in four to six weeks, the company said.
The United States Senate has passed a controversial land swap deal, paving the way for the country’s largest copper mine to move forward, following close to a decade of roadblocks by Washington.
Senators passed the measure by 89 votes to 11 on Friday, just ahead of their Christmas recess.
The $585 billion National Defense Authorization Act of 2015 is a “must-pass” piece of legislation that Congress moves every year. This year, however, the bill became controversial when lawmakers used it as a way to pass a massive public lands package, the Huffington Post explained:
“Many of the land measures were popular. But one, the Southeast Arizona Land Exchange and Conservation Act, had twice failed to win support in the House of Representatives, blocked both by conservationists and conservatives.”
The deal now allows mining giants Rio Tinto (LON:RIO) and BHP Billiton (ASX:BHP) to jointly build a massive copper mine in the state as part of a deal with the U.S. Government. The bill allows Rio to acquire 2,400 acres of the federally protected Tonto National Forest in southeast Arizona in exchange for 5,000 acres in parcels scattered around the state.
Both miners have said they expect operations at their Resolution Copper project —55%-45% owned by Rio and BHP— to start as early as 2020. But they have had to deal with legal hurdles and opposition by the San Carlos Apache Tribe and other southwestern nations, who claim the massive project would weaken the ground beneath their sacred Native American lands.
Resolution Copper, located in Arizona’s famous Copper Corridor, is expected to create 3,700 direct and indirect jobs and bring more than $6o billion in economic benefits to the state over its 66-year life. Rio and BHP estimate that output from the mine will meet 25% of the U.S. total demand, which will make it North America’s largest copper mine
Learn more about the project:
Resolution Copper Mining – Mine Plan of Operations from Resolution Copper on Vimeo.
12 Comments
m davidson
finally!
it’s time to get this important project moving. high paying jobs in a weak economy will benefit Arizona & the US.
dd
check out the green light nevada copper got too ncu
Ben Robinson
Isn’t this land owned by Native Americans?
m davidson
no — federal. the company trades 5300 acres of conservation and recreation lands around the state for 2400 acres of national forest land that overlays the copper deposit.
the San Carlos Apache lands are 25-35 miles away.
Ken in San Jose
Good jobs, reduced imports, increased state taxes. Now just do right and get the environmental protection right from the start. Arizona is a dry state, please do not pollute what little water there is.
m davidson
totally agree. do it right.
SnakePlissken
If you wanna create jobs in a number that will matter to the nation-wide economy, bring manufacturing back – do not allow ANY value-added imports to this continent.
Most Americans are pea-brains who have no clue about the positive economic effect of the old ‘rust-belt’ sector of the USA economy, heavy industry and ALL value-add, consumer-products industry. Even with this large mine, there will be fewer jobs in mining and energy extraction than there was in the past, and for as long as there is far, far fewer jobs in manufacturing than before, now in Asia, the Asians will have surpluses and you pea-brained Americans will have deficits.
Cheese and Rice, you sent the jobs to Asia, now you go to Asia and beg for money. So, what part of that can’t you comprehend?
I grew up in a mining town where there was 5,700 unionized miners and a few hundred more non-union. Population was 40,000 and economy was thriving. The mines closed, now the population is 10,000, it is a s-hole of an economy, and the only reason there remains 10,000 people is so many working for ‘Medicare-Care’, the name used for the nursing home which is funded nearly 100% by medi-care. When all those seniors die-off, and they were the miners, then even the Medicare-Industry will cease to exist there. That area never replaced mining with any value-add industry and it has been literally obliterated. Wake the F up, you hideous pea-brains. Your enemy is in Wall-Street, not Russia or Persia.
jimnbubba
The mine is already there and has produced before , they are just going deeper
Rob Bowell
amazing what difficult times can do for politicians to make reasonable decisions
Rob B
All good, but look at oil right now. There is a glut of copper on the market with more coming on line as we speak. Economics will dictate.
jimnbubba
The San Carlos Apaches never had a problem with the mine before the tree huggers got involved, the mine is 50 miles from their reservation
Unlisted
Well it don’t mean that they are going to give us high paying jobs remember the company is looking out for their investers, n and going to try to hire the cheapest with out experience miners like the illegals but at what cost do we put up with fair pay and tradesman who went to schools for such a job to earn for his family good pay