06
Sep
15:39
Rio Tinto, McEwen Mining sign option agreement on Elder Creek project
Anglo-Australian mining giant Rio Tinto is acquiring a 60% interest in the Elder Creek copper-gold porphyry project in northern Nevada, Kallanish reports.
Kennecott Exploration Co, a Rio Tinto subsidiary, will also form a joint venture with McEwen Copper, a subsidiary of Ontario-based McEwen Mining Inc under the newly signed binding option agreement.
Rio Tinto can acquire that 60% interest by spending $18 million on exploration and development over the next …
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