Snarled supply chains are giving new impetus to Rio Tinto PLC’s efforts to produce minerals essential for modern technologies, starting with mining sludge from a giant copper pit in Western U.S.
Waste produced at Rio Tinto’s Kennecott mine near Salt Lake City, Utah, contains a clutch of critical minerals that have long been overlooked by global miners in favor of copper and commodities that can be produced at scale and sold into markets with a deep pool of investors. Now, these lesser-known minerals are becoming more valuable as the U.S. and its allies worry about security of supply amid geopolitical tensions and disruptions in exporting countries due to the pandemic and a power crunch.
