01:47 PM EDT, 07/11/2025 (MT Newswires) -- Rio Tinto (RIO) has expressed optimism to invest more in US copper mining following President Donald Trump's plans to levy imports of the metal, Bloomberg reported Friday, citing Chief Executive Katie Jackson.

The flow of copper into the US is expected to strengthen in the coming weeks as a result of tariffs, potentially tightening the market in other key markets and applying upward pressure on prices, according to the report.

The company's proposed Resolution underground copper mine in Arizona, owned 55% by Rio and 45% by BHP Group ( BHP ) , has gotten a boost from a favorable Supreme Court decision that allows the companies to advance the project, the report said.

The company has declined to comment on the size of the potential investments, Bloomberg said.

Copper prices surged to historic highs earlier this week when Trump first revealed his intention to set a 50% tariff on the metal.

Shares of Rio Tinto were up 0.5% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources, but may include rumor and speculation. Accuracy is not guaranteed.)

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