From Yahoo Finance: 2025-05-12 09:10:00

Rio Tinto Plc (NYSE: RIO) shares rise premarket as joint venture with Sumitomo Metal Mining for Winu copper-gold project in Western Australia’s Great Sandy Desert is finalized. Sumitomo will pay Rio Tinto up to $430.4 million for a 30% ownership stake, pending regulatory approvals, and project milestones. Rio Tinto focuses on partnerships with Traditional Owners.

The Winu project, discovered in 2017, is a low-risk, long-life copper-gold deposit with expansion potential. A pre-feasibility study for an initial processing capacity of up to 10 million tonnes per annum is expected in 2025. Rio Tinto Copper Chief Executive looks forward to leveraging the partnership with SMM to deliver the project.

In addition to the Winu project, Rio Tinto explores a low-carbon aluminum project in India with AMG Metals & Materials. Investors can access RIO shares through VanEck Steel ETF (NYSE: SLX) and iShares Copper and Metals Mining ETF (NASDAQ: ICOP). RIO shares are up 2.90% to $61.72 premarket.



Read more at Yahoo Finance: Rio Tinto, Sumitomo Partner On $430 Million Copper-Gold Project In Australia