Economy

Four generations and counting

See the impact Kennecott has had on the Peay family for more than 130 years.

Providing thousands of Utah jobs

Watch how Kennecott jobs help our community and make Utah an economic leader.

Making modern life work

See how Kennecott makes modern life possible for people around the world and in our community.



Rio Tinto Kennecott

Supporting and enhancing a sustainable economy in the Salt Lake Valley is integral for us as a valuable member of the community. We harness resources and create prosperity for our shareholders, employees, communities, governments and business partners through salaries, taxes and contracts. Our objective is to understand and maximize the benefits we bring to the economy at local, regional and national levels. We contribute to Utah and surrounding communities by being a leader in production, exports, revenue and employment.

Throughout the history of the Bingham Canyon Mine, no other single private sector operation has generated more production, exports, income and employment for as many years in the state. As the second-largest copper producer in the United States, we produce nearly a quarter of the U.S. annual refined copper production. The Bingham Canyon Mine is one of the top-producing copper mines in the world with total production of more than 19 million tons.

 

Economic statistics

 

  • Total in-state spending by combined Rio Tinto and Kennecott business units in 2011 was $1.2 billion, which included $270 million in wages, salaries, benefits and pensions, $765 million in purchases with Utah firms and $140 million in payments to state and local government (including taxes).
  • We directly employed 2,810 people and indirectly employed 14,971 people for a total of 17,781 jobs in 2011.
  • More than 27,000 Utahns — or about 8,800 households — were sustained because of the $1.2 billion of in-state spending by Rio Tinto and Kennecott business units in 2011.

 

Research performed and submitted by:
Pamela S. Perlich, Ph.D., senior research economist
Bureau of Economic and Business Research
University of Utah
Released June 2012

Production

As the second-largest copper producer in the United States, Kennecott produces nearly 25 percent of U.S. copper. Our Bingham Canyon Mine is one of the top-producing copper mines in the world with total production of more than 19 million tons. In 2011, Kennecott produced 237,000 tons of copper, 379,000 troy ounces of gold, 3.2 million troy ounces of silver, 30 million pounds of molybdenum and other products. For more on our 2011 accomplishments, see Rio Tinto’s 2011 annual report.