Rio Tinto (NYSE:RIO) is betting that President Trump will finally give the green light to its giant Resolution copper mine in Arizona after a 12-year permitting battle, the Financial Times reported Wednesday.

Rio Tinto is betting that U.S. President Donald Trump will finally give the green light to its giant copper mine in Arizona, the Financial Times reported on Wednesday. "I do think that we have really good chances now to progress that project,

Rio has faced a 12-year permitting battle to develop the Resolution mine, which could meet 25% of the US domestic copper needs.

Rio Tinto Group, the world’s top iron ore exporter, said shipments of the steelmaking material slipped in the fourth quarter, as demand from China remained lackluster and production at some mines declined.