Saturday, August 2, 2025

Latest

Rio Tinto Increases Ownership In Western Copper and Gold To 9.7%

Western Copper and Gold (TSX: WRN) has secured further financial support from Rio Tinto, who has invested a further $6.0 million to support the further development of Western’s flagship Casino project, which is found in the Yukon.

The investment, consisting of 3.5 million shares purchased at $1.73 per each, increases Rio Tinto’s ownership to 9.7%. As part of the arrangement, an investor rights agreement has been entered into that will see Rio retain the right to nominate one member to the Casino project’s technical and sustainability committee, to have a non-voting observer to attend all meetings of the board, and should its ownership increase to 12.5%, it will retain the right to nominate one director.

Rio Tinto also holds the right to maintain its ownership rate through future equity issuances.

RELATED: Barrick Gold Increases Stake In Hercules Silver To 15%

Western Copper’s Casino project is found 300 kilometres northwest of Whitehorse. It currently features a feasibility study, with proven and probable reserves of 5,079 million pounds of copper, 571.9 million pounds of molybdenum, and 8.5 million gold ounces within its mill ore reserves. Its heap leach reserves meanwhile amount to 165.3 million pounds of copper and 1.78 million ounces of gold in the proven and probable category. The feasibility study suggests an after-tax NPV(8%) of $2.3 billion, based on a 27 year mine life.

Proceeds from the investment by Rio Tinto is expected to be used to fund specific areas of study, with the aim of pushing the company through permitting to the development phase for Casino.

Western Copper and Gold last traded at $1.77 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

AngloGold Buys Another Gold Junior! Augusta Gold Acquired For $197 Million

Another Gold Deal! Aris Mining Sells Assets To McFarlane

Royal Gold Goes Big | $3.5 Billion Sandstorm Acquisition

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Lithium Market Shakeup: Rio Tinto in Talks to Acquire Arcadium

Rio Tinto (ASX: RIO), one of the world’s largest mining companies, is reportedly in talks...

Monday, October 7, 2024, 07:52:34 AM

Rio Tinto, GMG Announce Partnership To Develop Graphene Aluminium-Ion Battery

Rio Tinto (NYSE: RIO) and Graphene Manufacturing Group (TSXV: GMG) announced today a non-binding agreement...

Wednesday, May 18, 2022, 10:06:00 AM

Native American Group to Take Fight Against Arizona Copper Mine to US Supreme Court

A Native American group has declared their intent to escalate the battle against Rio Tinto’s...

Thursday, May 16, 2024, 10:41:00 AM

Rio Tinto-Glencore Merger Reportedly In Discussion, Poised To Topple BHP As Largest Copper Miner

An industry-shifting movement in the global mining space could happen as Rio Tinto (LON: RIO)...

Friday, January 17, 2025, 10:01:04 AM

Rio Tinto Expands Lithium Portfolio with $6.7 Billion Arcadium Acquisition

Rio Tinto Group, the world’s second-largest mining company, has announced its agreement to acquire Arcadium...

Wednesday, October 9, 2024, 03:12:00 PM