Formation of Utah Copper Company
Utah Copper Company was incorporated on June 4, 1903. The mine was created to process low-grade copper ore found in Bingham Canyon, about 25 miles southwest of Salt Lake City. Most experts of that day said the company would never make money: the ore grade was too low, only 39 pounds of copper per ton of ore. Steam shovels began working on the mountain in 1906 and mining has continued for the next 100 years.
Kennecott Copper Corporation incorporatedOn April 29, Kennecott Copper Corporation was incorporated as a holding company for all the Guggenheim-affiliated copper properties throughout the world.
Copper Corporation acquires interestIn December, Kennecott Copper Corporation acquired a total of 25 percent interest of Utah Copper Corporation, and over the next eight years, raised its holding to 77 percent.
In April 2013, the Bingham Canyon Mine experienced the largest mine slide event in history. Through advanced monitoring and planning, no employees were injured.
Rio Tinto Kennecott sells undeveloped land and associated assets in the Daybreak community to Varde Partners.
Alternative View Project
Alternative View construction project begins on the outer face of the Bingham Canyon Mine to enhance the aesthetics of areas visible from the Salt Lake Valley and provide mine-life extension. This project will also improve the performance of stormwater management by constructing and enhancing groundwater infrastructure.
Department of Energy Partnership
Rio Tinto Kennecott partners with the Department of Energy’s Critical Minerals Institute for recovery of critical minerals and metals. The partnership set out to ensure the U.S. leverages domestic mineral and metal resources required for global leadership in clean power manufacturing by combining Kennecott’s operational expertise and CMI’s research capabilities.