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Rio Tinto commits extra $302 mln for Resolution copper project, eyes EV market

Rio Tinto commits extra $302 mln for Resolution copper project, eyes EV market. April 15 (Reuters) - Rio Tinto Ltd said on Monday it would invest an extra $302 million to develop its Resolution copper project in the U.S. state of Arizona, as it looks to expands output to meet the lucrative market for new energy vehicles. The funds will be used bank-roll additional drilling, ore-body studies, infrastructure improvements and permitting activities with the miner aiming to advance the project to the final stage of the permitting phase, it said in a statement to the Australian Stock Exchange. Resolution, owned 55 percent by Rio and 45 percent by BHP Group , is one of the "most significant undeveloped copper projects in the world", Chief Executive Jean-Sébastien Jacques said.

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