Mentioned:
Amazon is getting serious about securing copper supply. Which is exactly why they’ve just done a new deal with one of the biggest mining companies in the world.
What’s happening:
- Amazon (NASDAQ: AMZN) has signed a two year deal to purchase low carbon copper from mining giant Rio Tinto (NYSE: RIO)
Why it matters:
- The copper being sold to Amazon is produced through Rio Tinto’s Nuton technology which uses bacteria to extract copper from primary sulphide ores which has less carbon emissions than traditional concentrator processes
Going deeper:
- Amazon has publicly stated they are purchasing the copper from Rio Tinto specifically for the build out of new large scale data centres to host artificial intelligence workloads and high performance computing
- Rio Tinto will produce all of the copper being supplied to Amazon in the United States at their Johnson Camp Mine and Gunnison Project which are both located in Cochise County, Arizona
