BHP Group secured environmental approval from the Antofagasta Environmental Assessment Commission for the Escondida copper mine expansion in Chile. Rio Tinto holds a 30% stake in the project. The expansion requires a multi-billion dollar investment.
The world's largest copper mine will now begin sulfide leaching and electricity upgrades. This development secures the long-term production profile for Rio Tinto’s key asset.
Rio Tinto shares (ASX: RIO) traded 1.98% lower on July 7, 2026. A broader downturn in the materials sector pressured the stock price during the session.