Rio Tinto and Sumitomo form joint venture for Winu copper-gold project in Western Australia

From Nasdaq: 2025-05-12 03:06:00

Rio Tinto and Sumitomo Metal Mining Co have finalized joint venture agreements for the Winu copper-gold project in Western Australia. Rio Tinto will develop and operate Winu, with SMM paying up to $430.4 million for a 30% equity share. This includes an upfront payment of $195 million and deferred considerations of up to $235.4 million based on future milestones. The companies plan to explore broader strategic partnerships in copper, base metals, and lithium. The transaction is set to close in 2025.



Read more at Nasdaq: Rio Tinto And Sumitomo Finalize JV For Winu Copper-Gold Project In Western Australia