Rio Tinto takes option on Nevada copper project
Vancouver-based junior Lion Copper and Gold has entered into an option to earn-in agreement with Rio Tinto to advance studies and exploration at Lion’s copper assets in Mason Valley, Nevada.
Rio Tinto will have the option to earn a 65% interest in the assets, including 13 900 ha of land, the historic Yerington mine, greenfield McArthur project, Wassuk property, the Bear deposit and associated water rights.
“The agreement offers the potential to both increase the scope and scale of our development and accelerate the path to first production,” comments Lion CEO Travis Naugle.
Rio Tinto will also evaluate the potential commercial deployment of its Nuton technologies at the site. Nuton offers copper heap leaching technologies to deliver greater recovery from mined ore and access new sources of copper, such as low-grade sulphide resources and reprocessing of stockpiled mineralised waste.
“These technologies not only offer Rio Tinto the potential to unlock additional copper, but to also deliver low carbon production with significant environmental benefits through reprocessing old stockpiles and tailings, and reducing waste from new and ongoing operations,” says Rio Tinto Copper CEO Bold Baatar.
Rio Tinto will pay up to $4-million for an exclusive earn-in option and agreed-upon Mason Valley study and evaluation works to be completed by Lion by the end of December. Should Rio Tinto elect to proceed with Stage 2, it has to pay up to $5-million for agreed-upon Mason Valley study and evaluation works over the next 12 months.
In the third stage, Rio Tinto will fully fund the feasibility study and ancillary work completed by Lion CG for up to $50-million.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation