Amazon Becomes First Buyer of Arizona Copper Made by Rio’s Nuton

Amazon Web Services struck a deal with Rio Tinto Group to use copper from an Arizona mine in US data centers. The cloud-computing giant will become the first customer for copper produced using Rio’s Nuton bioleaching technology, the mining company said in a statement Thursday, without providing terms. The arrangement underscores copper’s importance in everything from renewable power to artificial intelligence, with analysts warning of a looming supply squeeze as producers struggle to meet demand growth. As prices surge to records, Rio has resumed talks to buy Glencore Plc — largely for its copper assets. Bloomberg News Senior Commodities Reporter James Attwood joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)