Kennecott Utah Copper, a wholly owned subsidiary of Rio Tinto Group, said this week that it plans to invest $73 million in machinery and equipment to accelerate mining operations at the Bingham Canyon Mine.

The money will be used to purchase additional haul trucks, graders, dozers, electric shovels and drills.

Kennecott is also looking at other opportunities to further expand the mine. Potential open pit expansions and underground operations could extend the life of the mine to 2036, the company said in a news release.