Capital improvements aimed at extending Kennecott mine life
Rio Tinto’s Utah-based Kennecott mine is one of the largest open-pit copper mines in the world. In 2021, the US copper mine produced 159,400 tonnes of copper, a 13.9% increase over the previous year. The organization developed a two-phase plan to extend the mine’s life. Phase one was completed in 2021 at a cost of $0.9 billion and is expected to extend mine life from 2019 to 2026. In December 2019, Rio Tinto approved $1.5 billion of capital spending for use in phase two of the south wall pushback plan which is expected to extend mine life by a further six years.
Competition|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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