If you are betting on McCain becoming president you may want to buy shares in Resolution Copper Mine.
If you are betting on Rio Tinto and BHJP getting together, you may want to buy shares in Resolution Copper.
This article is based on prejudice and personal interest: I disclose that I have been a friend of the Rio Tinto fellow in charge of designing the block caving system for the new mine. I very much admire his technical skills. If anybody can make this block caving operation work, he can.
But the truth is that neither the block cave man nor me nor you will have much impact on the ultimate success of the mine or the value of your shares. In practice it all boils down to politics. In July 2007 this news report appeared:
U.S. Sens. Jon Kyl and John McCain have introduced legislation for the third year in a row that would allow a new copper mine to be developed over a huge mineral deposit outside Superior, Arizona. The mine project proposed by Resolution Copper Mining, the Arizona joint subsidiary of Britain's Rio Tinto and Australia's BHP Billiton, needs the legislation to pass to acquire federal land over the underground mine site.
The area needs helps. A report at a website that won’t let me in a second time unless I register (which I refuse to do) says There are a little more than 3,000 people in the 1.9 square miles that make up Superior. The town, about an hour east of the Valley, was once a booming mining community, boasting a bustling town center and claiming to have visitors like Doc Holliday and Wyatt Earp. Today it is falling apart - abandoned houses with sinking roofs, rusted fences, peeling paint and crumbling stone mark most neighborhoods. The bulk of businesses on Main Street and everywhere else are boarded up, empty reminders of when silver and copper fueled the economic success of the town that once had twice its current population.
So maybe the good senator and/or Resolution Copper and/or the folk around Superior can tell us curious voters and investors how they think the presidential election and/or the outcome will affect this incredible mining opportunity.