Rio Tinto Backs Western Copper with Full Participation

Western Copper (TSE:WRN) has released an update.

Western Copper and Gold Corporation has announced that Rio Tinto is fully exercising its participation right in Western’s recent $40 million share offering to maintain its 9.7% stake in the company. Rio Tinto will purchase additional shares at $1.90 each, with the transaction expected to be finalized by May 6, 2024, pending regulatory approval. The move underscores the mining giant’s commitment to the economically promising Casino Project in Canada’s Yukon Territory.

For further insights into TSE:WRN stock, check out TipRanks’ Stock Analysis page.