BHP and Rio Tinto JV Cleared for $15B Chile Copper Project

Key Facts

1A joint venture between BHP and Rio Tinto has been cleared for a $15 billion copper project in Chile.

Amid rising global demand for base metals essential for the green transition, the joint venture between mining giants BHP and Rio Tinto has received official clearance for a massive copper project in Chile. Valued at approximately $15 billion, the approval marks a significant regulatory milestone for the development of large-scale copper production assets in Chile, a critical global supplier of the metal.

This clearance comes as major miners race to bolster their reserves, with Rio Tinto competing against peers such as Freeport-McMoRan and Antofagasta to secure market share in a copper market facing projected deficits. Per market data, BHP shares closed at $83.64 while RIO shares closed at $93.58 (close July 6, 2026), reflecting steady valuations ahead of this major regulatory announcement.

Investors are now looking toward production timelines and the impact of this project on long-term guidance, with share prices currently at $83.64 for BHP and $93.58 for RIO (close July 6, 2026). In the absence of immediate upcoming economic catalysts specifically for the Chilean mining sector, focus will remain on the capital expenditure details and execution phases of the venture.