Resolution Copper inches closer to land swap for Arizona mine
Dec 22, 2009 | 11:46 AM
| Anne Riley
Resolution Copper Co.'s plan to develop a massive source of domestic copper in the protected forests of Arizona has moved one step closer to reality.
The Senate Energy and Natural Resources Committee approved legislation this week that could allow the Phoenix-based subsidiary of Rio Tinto to build a mine on a piece of Arizona's Tonto National Forest in exchange for 5,500 acres of "high-priority conservation lands" now owned by the company.
In the form it left committee, S. 409 gives the secretary of agriculture authority to approve such a "land swap" based on the results of a National Environmental Policy Act (NEPA) assessment to be completed by the company in upcoming years. The original bill, introduced by Sens. John McCain and Jon Kyl (both R., Ariz.), would have authorized the land exchange to go forward without granting the secretary veto power. McCain and Kyl's press offices didn't return calls seeking comment.
The amended bill will now move to the U.S. Senate, while a similar piece of legislation introduced by Rep. Ann Kirkpatrick (D., Ariz.) makes its way through the House. If the bill is ultimately signed into law, Resolution could be on its way to becoming the largest copper mine in North America.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.