Clayton Walker, Operations Director of the Copper Products Group of Rio Tinto, about the need for more copper and production mines in the United States
Herriman, Utah – The demand for copper in the United States will double in the next 10 years, but the nation lacks production to meet that demand unless measures are taken to relieve restrictions in the new mines.
President Donald Trump hopes to change this after signing an executive order on Thursday to increase the production of US minerals.
“The United States has vast mineral resources that can create jobs, combine prosperity and significantly reduce our dependence on foreign nations,” says the order. “The United States once was the largest world producer of lucrative minerals, but the dominant federal regulation has eroded the mineral production of our nation.”
The Bingham Canyon mine, also known as the Kennecott Copper mine, in Utah. (River River / Fox News)
The order will focus on priority projects for minerals such as copper, uranium, potassa and gold, among others. This is a news welcome to the nation’s copper industry, which fights to compete with the most relaxed mining regulations in other countries.
An ETF to play gold, silver, copper and everything else
“We have to create more mines. Open some of those resources we have here in the US. And bring them online,” Clayton Walker, Copper Operations Director in Rio Tinto, the second largest mining company in the world. “That then feeds manufacturing, people who really take that raw material and make it something usable that consumers can enjoy. So I feel it is just a critical path to make manufacturing again here in the United States to begin in the mines with that raw material.”
Rio Tinto has been trying to open a new copper mine in Arizona for 17 years, called copper resolution. Authorities say the mine could provide up to 20% of demand. But it meets obstacles over the years, including the problems of land rights and environmental concerns.
“The challenge we have at this time in the US., It takes about 29 years to get a mine.” But we have to find a way to put those mines online a little faster than, for example, 29 years. “
The Bingham Canyon mine, also known as the Kennecott Copper mine, in Utah. (River River / Fox News)
A way in which the permission process could be accelerated: add copper to the list of critical minerals.
The energy department defines a critical mineral such as, “any mineral, element, substance or non -combustible material determined by the Secretary of Energy: (i) has a high risk of interruption of the supply chain; and (ii) it serves an essential function in one or more energy technologies, including the technologies they produce, transmit, store and retain energy.”
The Congo Mineral Offer to us raises property issues in the midst of a bloody civil war, an important presence of China
Adding copper to the list would facilitate the restrictions on copper production, which means that Rio Tinto and other companies could open new faster copper mines in the United States.
The copper cable wrap is monitored by a factory employee. ((Photo of Denis Charlet / AFP through Getty Images) / Getty Images)
“I think we need to make copper as a critical mineral. Not having it on the list is hurting us and preventing this valuable metal from obtaining the resources that are needed,” Walker added. “I think we have some excellent standards. We can do better here than anywhere. We just have to do it a little faster.”
The Kennecott Mine of Río Tinto, just west of Salt Lake City, is the largest open bonus mine, which covers 2.5 miles wide and approximately 4,000 feet deep. With more than 120 years, the mine has produced more copper than any other on the planet.
The Bingham Canyon mine, also known as the Kennecott Copper mine, in Utah. (Photo of Deagostini / Getty Images / Getty Images)
“Kennecott’s story is what keeps me here. I’m simply absolutely in love with her. Twenty -five percent of the metal that the allies used in World War II came from here,” said Nate Foster, managing director of Kennecott. “Allies do not win World War II without Kennecott.”
Kennecott also has the distinction of being one of the only two locations in the country that can extract, smell and refine their own copper. In comparison, China has more than 50 copper foundations. This means that much of the copper that is extracted in the United States is sent to other countries to be refined.
“We are right now [the U.S.] Actually, it is exporting more than 400,000 tons of concentrate per year, which goes to other countries to be prosecuted and then returns us back in another way, “says Walker.
The United States must ‘look internally as much as we are looking for critical minerals, says the CEO.
Kennecott’s foundry is a wonder of engineering: at 1,215 feet, it is the fourth highest fireplace in the world.
“The fact that we have one of the cleanest foundations in the world makes it really unique,” Foster added. “And where we really believe we are well positioned with a very strategic asset with our foundry and refinery to help continue … invest in the United States.”
Kennecott is an operation of 365 days and 24 hours a day. Ninety -seven large carriers, capable of transporting 360 tons in a single load, work day and night to extract around 120,000 tons of copper ore per year, which represents 20% of the copper produced in the country.
The Kennecott copper mine on the outskirts of Salt Lake City, Utah. (Planet One / Universal Images images through Getty Images / Getty Images)
The operation is performed the entire house. After being extracted and crushed, the mineral makes its way through a 5 -mile conveyor belt to the concentrator. Then it becomes a mud and puts on the foundry. From the foundry it becomes a copper slab of 700 pounds. After spending time in a bathroom of electrolytes, it becomes two copper plates of 300 pounds: 99.99% pure copper.
Get the Fox business on the fly by clicking here
“That is the highest quality that you will find anywhere in the United States,” said Foster. “AND When you observe the amount of emissions we do not have here in the US., As we produce with some of the highest environmental standards, other foundations worldwide do not have to comply with those same standards. Then we are proud of that. “
Trump has threatened to add a 25% rate on imported copper, which represents 47% of the copper used in the United States, while this could be a blessing for copper mines based in the US. UU.
“We are working hard with the administration to be part of that solution. And if you observe the way the tariffs work, everything is in how configures them and structures, “Walker said.” And if we can make it structured in the right way, I think it will benefit the domestic offer. “
