Under the bill, Resolution Copper Mining LLC, a subsidiary of Rio Tinto and BHP-Billiton, would give up 1,194 acres of land in southeast Arizona to the U.S. Forest Service. Resolution would also give 4,150 acres of land to the Bureau of Land Management.
In return, Resolution would receive 2,422 acres in the middle of what is now the Oak Flat Campground. No mining is currently allowed on that site, but according to report language accompanying the bill, Resolution found a "very large copper deposit" in the late 1990s about a mile under the surface of the site.
Under the bill, Resolution would give up more than twice as much land as it receives from the federal government. However, the bill would also require the company to give up more land if it is determined that the land it receives is worth more than the land it gives up.
The bill is sponsored by five Arizona Republicans: Paul GosarPaul GosarOvernight Finance: Puerto Rico bill clears panel | IRS chief vows to finish term | Bill would require nominees to release tax returns House panel approves Puerto Rico debt relief Overnight Defense: Dem opposition mounts to defense policy bill MORE, Trent FranksTrent FranksDems: House GOP just like Trump Supreme Court wrestles with corruption law House GOP reignites push for budget plan MORE, Ben Quayle, Jeff FlakeJeff FlakeOvernight Defense: Terrorism suspected in EgyptAir crash; McCain details funding plans Overnight Finance: Path clears for Puerto Rico bill | GOP senator casts doubt on IRS impeachment | Senate approves .1B for Zika Overnight Tech: Trade groups press NC on bathroom law MORE and David SchweikertDavid SchweikertSenate races heating up Tea Party class reassesses record Lawmakers to DOD: Reject 'no touch' policy sought by 9/11 plotter MORE.