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1) According to Dominic Barton, chairman of Rio Tinto's Resolution Copper project in Arizona, is "...getting immense pressure to proceed because of the copper reserves that are there." Barton clarified that the pressure was coming from "parts of the U.S. government as some US senators are looking to put copper on the US list of critical minerals , which would allow copper projects access to tax breaks. The copper resource that Resolution holds accounts for a quarter of all US reserves but is opposed by all of the state's tribal councils because it would destroy a heritage sire of religious significance. The US Forest Service is set to approve a land swap between the US government and Rio Tinto that would allow for the company to develop the resource. Rio Tinto has been engaged with the indigenous tribes that are objecting to the land swap and the development of the project and has pledged to follow United Nations principles that require the full consent from Indigenous groups. Having a supply chain that can be controlled here at home is vital to a green transition and the control of our own resources, while being less reliant on foreign entities.
2) Newcrest Mining board is set to recommend a takeover offer from Newmont to its shareholders, according to the interim CEO Sherry Duhe. Newmont Mining made an offer to buy Newcrest las month that would value Newcrest at $19.5 billion and would create the world's biggest gold miner with sites around the world. After conducting its own due diligence on Newmont, “the latest offer is one that the board would be prepared to recommend subject to successful due diligence during the period,” said Sherry Duhe. The deal not only creates the largest gold miner, but also allows Newmont exposure to copper, a key mineral set to grow in demand with the looming green energy transition.