Judge Gives Green Light for Forest Land Transfer to Rio Tinto Plc (NYSE: RIO) in Arizona

February 22, 2021 12:55:05

This past week, a federal judge gave his ruling on a case that involved the U.S. Forest Service transferring Arizonian land owned by the government to Rio Tinto Plc (NYSE: RIO). His ruling denied the request from Native Americans who had argued that the land had cultural and religious value.

The judge’s ruling is probably going to intensify the clash between Rio Tinto and BHP Group Plc, which is its minority partner, and members of the San Carlos Apache Tribe in Arizona, who assert that the land is home to deities. Rio Tinto has spent more than $1 billion dollars on the Resolution Copper project which is the project that will be making use of the land. Copper, the element that will be extracted from the land, is used to make electronic devices and electric vehicles. The amount of money invested so far is not inclusive…


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