04:08 AM EDT, 03/17/2026 (MT Newswires) -- Rio Tinto (RIO) and BHP (BHP) said late Monday that their Resolution Copper joint venture has completed a land exchange with the US Forest Service, enabling development of one of the world's largest untapped copper deposits in Superior.

The companies said the move follows a ruling by the US Court of Appeals for the Ninth Circuit rejecting efforts to block the exchange.

Under the agreement, the companies said Resolution Copper transferred more than 5,400 acres of environmentally and culturally sensitive land for conservation, receiving over 2,400 acres near the historic Magma copper mine in return.

The companies said they plan to invest about $500 million over two years in early development work, infrastructure upgrades, and community support, including funding for Native American tribes and local stakeholders, while creating around 100 jobs.