Rio Tinto and Sumitomo Partner on Winu Project

Rio Tinto (GB:RIO) has released an update.

Rio Tinto has entered into a joint venture with Sumitomo Metal Mining to develop the Winu copper-gold project in Western Australia, with the latter investing $399 million for a 30% equity share. This partnership aims to leverage both companies’ expertise to advance the project, seen as a significant opportunity for profitable growth in the metals sector. The collaboration also opens the door for further strategic partnerships in copper, base metals, and lithium exploration.

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