Rio Tinto stands to gain from the surge in demand for electric vehicles.
Bingham Canyon mine, located near Salt Lake City, is at the forefront of America's shift towards clean energy.
The global demand for copper, a crucial element in electric vehicles, is projected to increase from 25 million metric tons to approximately 49 million metric tons by 2035, as predicted by S&P Global.
As miners increase their output, they encounter numerous challenges, such as addressing the concerns of local communities, minimizing environmental harm, and operating in distant locations worldwide.
Tyler Broda, metals and mining analyst for RBC Capital Markets, stated that there will be a significant issue with the transition over the next decade, as it is extremely challenging for these companies to sustain their current level of production.
Rio Tinto, a company with operations in both Australia and the UK, is one of the world's largest mining companies. It operates in 35 countries and has 17 iron ore mines in Western Australia that provide material for steel production, as well as mines that produce aluminum, diamonds, and boron, a component used in smartphones.
What is Rio Tinto doing to increase production in its critical minerals business? CNBC obtained a behind-the-scenes look at Rio Tinto's Utah operation to learn more.
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