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.


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