CITY OF MELBOURNE (dpa-AFX) - Rio Tinto Group (RIO.AX), a mining company, Wednesday announced that it has signed project agreement with The Nyangumarta Warrarn Aboriginal Corporation or NWAC for the proposed Winu copper-gold mine.
This agreement builds on the Project Planning Agreement signed in 2023, where the Nyangumarta People have given their consent for the proposed Winu mine and associated infrastructure on Nyangumarta Country.
Winu is poised to be the first mine to be developed on the Nyangumarta Country, and is anticipated to create new pathways to training, employment and business participation. The project is located in Western Australia's Great Sandy Desert, approximately 300 kilometers south of Broome, is a joint venture partnership with Sumitomo Metal Mining Co (SMM).
Under the joint venture agreement, Rio Tinto holds 70 percent stake and will develop and operate Winu with SMM holding the remaining 30 percent interest.
Currently, Rio Tinto shares are trading at A$173.62, down 3.18% on the Australian Stock Exchange.
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