Business
Rio Tinto backs SA copper exploration project – Australian Mining
Rio Tinto has teamed up with Renascor Resources to jointly explore and develop part of the Marree copper project in South Australia’s Adelaide fold belt.
Rio Tinto has teamed up with Renascor Resources to jointly explore and develop part of the Marree copper project in South Australias Adelaide fold belt.
Under the agreement, Rio Tinto Exploration has the potential to earn 80 per cent interest in EL 5586 by funding $200,000 to Renascor and sole funding a further $3 million in exploration over five years.
Renascor will retain 100 per cent interest in the remaining exploration licenses EL 6170 and EL 6403, which together form the Marree project.
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