Saturday, May 10, 2008

In BHP - Rio Tinto merger, would Resolution Copper be sold?

BHP Billiton’s CEO Marius Klopper’s is reported by the Financial Times as saying if the company takes over Rio Tinto, it could sell more than $50 billion in assets. Kopper said “smaller or non-core assets in aluminium, copper and ferrous metals could be sold.”

BHP and Rio Tinto are partners in the Resolution Copper project in Superior, Arizona, which could be one of the largest copper producers in the country if the mine is developed. [above: Resolution Copper]

So, if the companies merge, it sounds like Resolution could be on the auction block.

1 comment:

  1. Anonymous4:40 PM

    Well BHP already has egg on their face for letting go of this deposit. Their people are activley involved in planning for the eventual mine. Yes they might make the same poor choice on investments and sell it to China. We all should hope that Rio mines this.