Rio Tinto: joint venture project for Australian deposit
(CercleFinance.com) - Rio Tinto announces that it has signed a preliminary agreement with Sumitomo Metal Mining (SMM) for a joint venture on the Winu project, a copper-gold deposit located in Western Australia's Great Sandy Desert.
Rio Tinto will retain management of the project, while SMM will invest 399m USD to acquire a 30% stake.
Both companies are also considering a broader strategic partnership to work together to explore opportunities for commercial, technical and strategic collaboration in copper, other base metals and lithium.
A pre-feasibility study and definitive agreements are planned for 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Rio Tinto will retain management of the project, while SMM will invest 399m USD to acquire a 30% stake.
Both companies are also considering a broader strategic partnership to work together to explore opportunities for commercial, technical and strategic collaboration in copper, other base metals and lithium.
A pre-feasibility study and definitive agreements are planned for 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.