LSE:RIOMetals and Mining
Rio Tinto’s Papua New Guinea Copper Gold Earn In And Valuation Check
Rio Tinto Group (LSE:RIO) has signed an earn in agreement with LCL Resources for copper gold exploration in Papua New Guinea.
The arrangement introduces staged funding and could allow Rio Tinto to increase its ownership stake in the project to 80% over time.
The partnership gives Rio Tinto exposure to a mineral rich, underexplored copper gold region that is relevant to energy transition metals.
For investors watching Rio Tinto at a share price of £64.81, this new exploration agreement adds...