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Home / Metal News / Rio Tinto, First Quantum to Jointly Develop Peru's La Granja Copper Mine

Rio Tinto, First Quantum to Jointly Develop Peru's La Granja Copper Mine

Apr 3, 2023 13:01

Source:SMM

According to mining news, Rio Tinto announced that it has reached an agreement with First Quantum, and the two parties will form a joint venture to unlock the development of the La Granja copper mine project in Peru, one of the largest undeveloped copper mines in the world.

According to mining news, Rio Tinto announced that it has reached an agreement with First Quantum, and the two parties will form a joint venture to unlock the development of the La Granja copper mine project in Peru, one of the largest undeveloped copper mines in the world.

It is reported that First Quantum will acquire a 55% stake in the project for $105 million, and has committed to further invest up to $546 million in the joint venture to provide capital and operating costs for the feasibility study and development of the project.

The transaction is expected to close by the end of the third quarter of 2023.

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