Three-month copper on the London Metal Exchange (LME) fell 0.5% to $9,177 a tonne in open trading. LME copper had risen 6% in January through Monday, when it hit a one-month high.
Rio Tinto is betting that Donald Trump will finally greenlight its giant copper mine in Arizona after a 12-year permitting battle, as part of a wave of domestic projects expected to be approved by the new US administration.
The Resolution mine, which first submitted a mining plan to the US Forest Service in 2013, would be the largest copper mine in North America once fully developed.
The project, 55% owned by Rio Tinto and 45% owned by Australia-based BHP, is a deep underground mine that could produce up to 1 billion pounds of copper a year, meeting 25% of US demand.
The mine is one of several expected to benefit from policies by Trump, who announced last year that he would speed up the regulatory approval process for any company investing more than $1 billion in the US.
The permitting process for Resolution has been slowed by a complex land-rights swap deal, concerns about water use, opposition from traditional landowners and constantly shifting policies in Washington.
Under the previous administration of US President Donald Trump, one of his final acts was to greenlight a series of mining projects, including the land swap for the Resolution mine just days before leaving office.
The most-active copper contract on the Shanghai Futures Exchange fell 0.8 percent to 74,960 yuan ($10,291.76) a tonne.
Among other metals, LME aluminium fell 0.7% to $2,615 a tonne, nickel lost 0.4% to $15,660, zinc fell 1.2% to $2,864 while lead fell 0.4% to $1,959 and tin fell 0.8% to $30,040.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-27-1-giam-cho-doi-cac-bien-phap-kich-thich.html
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