Mining giants BHP Group (BHP) and Rio Tinto (RIO) are seeking support from President Donald Trump after a U.S. court ruling stalled their Arizona copper project. The setback has pushed the companies to lobby Trump as they look to keep the project on track. BHP stock has declined by 1% in pre-market trading on Wednesday, while RIO has fallen by 0.64%.
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Rio Tinto and BHP are global mining companies focused on iron ore, copper, coal, and other key resources. In Arizona, the companies are jointly developing one of the world’s biggest untapped copper deposits. The setback marks the latest twist in more than two decades of legal battles over the proposed copper mine.
Trump Attacks Court Decision
The Arizona copper project, or the Resolution Copper project, has faced repeated delays due to environmental concerns and regulatory reviews. Most recently, the project hit another setback when an appeals court issued a temporary injunction blocking a planned land swap needed to move the mine forward. For context, the project requires transferring land in Arizona’s Tonto National Forest to Resolution Copper.
Following the court’s decision, Trump slammed the ruling on Truth Social, calling it a decision by a “radical left” court. He also criticized opponents of the copper project, calling them “anti-American.”
Just a ‘Temporary Pause’
In response, a Resolution Copper spokesperson called the injunction a “temporary pause.” The companies argue the mine could provide up to a quarter of current U.S. copper demand, a metal critical for electric vehicles and the data centers driving the AI boom.
They also say the project aligns with Trump’s push to revive America’s copper industry.
RIO or BHP: Which Stock Is a Better Buy, According to Analysts?
Using TipRanks’ Stock Comparison Tool, we placed BHP and RIO against each other to find the best stock, according to analysts. Among these two, RIO stock is rated as Moderate Buy by analysts, while BHP carries a Hold rating. In terms of share price appreciation, RIO’s average stock price forecast of $64.0 suggest an upside of 5.63% from current levels.
