Vancouver based Western Copper and Gold Corporation announces a strategic investment by Rio Tinto Canada Inc. The funding will support Casino Project in the Yukon region in Canada. Rio Tinto has agreed to acquire approximately 8.0% of Western’s outstanding common shares.
- Western Copper and Gold Corporation is developing the Casino Project, Canada’s premier copper-gold mine in the Yukon Territory
- Casino Project is one of the most economic greenfield copper-gold mining projects in the world.
- The investment represents an opportunity for Rio Tinto to better understand the potential of the Casino Project
Recent investments and expansions by Rio Tinto are featured below:
May 2020: The global metals and mining company Rio Tinto, announced that it is investing approximately $10 million in efforts to fight COVID-19 across Canada and the United States. The fund will help to support local community efforts to fight pandemic.
April 2020: The leading metals and mining company, Rio Tinto announced an investment of $10 million in order to support local community efforts to fight COVID-19 and its social and economic impacts across Canada and the United States.
February 2020: Rio Tinto, announced its plans to invest approximately $1 billion over the next five years to support the delivery of its new climate change targets and the company objective for net zero greenhouse gas emissions from operations by 2050.
February 2020: Rio Tinto has announced an investment of $98 million in a new solar plant at the Koodaideri mine in Pilbara, Australia, as well as a lithium-ion battery energy storage system to help power its entire Pilbara power network. The solar plant will be Rio Tintos first company-owned solar facility, and it will consist of more than 100,000 panels, covering an area of 105 hectares. Construction will be completed by the end of 2021. The companys 34-megawatt solar photovoltaic plant is expected to supply all of Koodaideris electricity demand and approximately 65% of the mines average electricity demand.
January 2020: Rio Tinto had awarded Mondium, a Perth-based company, the contract for the design and construction of the Western Turner Syncline Phase 2 (WTS2) mine in the Pilbara region of Western Australia. As per the agreement, Mondium will undertake all engineering and design, procurement and site construction works associated with the WTS2 development. The project will create 450 jobs for locals.
December 2019: Rio Tinto had approved a $1.5 billion investment to continue production at its Kennecott copper site till 2032 in the USA. This surplus investment will commence in 2020. Rio Tinto, with this project, has invested more than $5 billion in modernisation, environmental stewardship, and mine-life extension initiatives since 1989.
September 2019: Rio Tinto, had signed a Memorandum of Understanding (MOU) with Chinas largest steel producer, China Baowu Steel Group and Tsinghua University, one of Chinas most prestigious and influential universities, to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain.
About Rio Tinto
London based Rio Tinto is one of the leading producers of gold, silver, copper, platinum group metals and molybdenum in North America, and a potential source of critical minerals such as rhenium and tellurium. The company employs 47,000 people in around 35 countries across six continents.
Rio Tinto, strongly represented in Australian and North American region, also has significant businesses in Asia, Europe, Africa and South America. The company has wide organisational structure, includes four product groups Aluminium, Copper & Diamonds, Energy & Minerals and Iron Ore and complemented by our Growth & Innovation and Commercial groups.