How Rio Tinto (RIO) Is Using Nuton and Los Azules to Build Another Copper Growth Path

Rio Tinto Group (NYSE:RIO) is one of the best copper stocks to buy for the AI and electrification boom. The company’s freshest copper-growth angle is tied to Los Azules, one of the world’s largest undeveloped copper deposits. On May 11, 2026, Reuters reported that McEwen Copper had signed an agreement with an international financial institution to manage a $2.4 billion loan package for Los Azules, while talks continued with Rio Tinto and other industrial groups for the equity portion of the project’s financing.

Rio already holds a 17.2% stake in McEwen Copper through Nuton, and Reuters had reported days earlier that the company was evaluating whether to increase that position. The project is being assessed with Rio’s Nuton leaching technology, giving the company another possible copper growth path as demand from data centers, electrification, and clean energy infrastructure rises. Rio also has a direct AI infrastructure link through its January collaboration with Amazon Web Services to supply Nuton copper for AWS data-center components.

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Rio Tinto Group (NYSE:RIO) is a global mining and materials company producing iron ore, copper, aluminum, lithium, and other minerals across major mining regions.

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