SMM4, March 26: Rio Tinto will spend A $9.2 million (US $5.9 million) on exploration for the Citadel copper and gold project, a joint venture between Rio and Antipa Minerals, according to a report by Antipa Minerals.
Antipa said this was well over its previous budget (A $2 million / US $1.3 million).
Exploration activity, which is expected to begin this quarter, will include reverse circulation drilling and diamond exploration in the Calibre mine, 45km from Rio Tinto's Winu copper and gold deposit.
In addition, Antipa will carry out exploration activities at the North Telfer Project Office, the, North Telfer project is located 25 km north of the Telfer copper, gold and silver mining area. Affected by the epidemic, the planned reverse circulation drilling for green space has also been delayed until the end of 2020 or early 2021.
Rio currently owns 51 per cent of Citadel's copper and gold mines.
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