Rio Tinto Declares Maiden Resource at Winu Copper Deposit
July 27 2020 - 7:24PM
Dow Jones News
By David Winning
SYDNEY--Rio Tinto PLC declared a maiden resource at its Winu
copper discovery in Western Australia, and said early study work
points to a possible shallow open-pit mine development.
Rio Tinto said it had also made another discovery little more
than a mile east of the Winu deposit. That prospect, called
Ngapakarra, also contains gold and is encouraging company officials
that there are multiple ore bodies across the broader area.
Rio Tinto reported an inferred mineral resource for Winu of 503
million metric tons of ore grading at 0.45% copper equivalent. The
resource includes a higher-grade component of 188 million tons of
ore with a 0.68% copper grade.
Rio Tinto is targeting first production from Winu in 2023.
"We're taking a more agile and innovative approach at Winu, and
are working on the studies for a small scale, start-up operation
focused on Winu's higher-grade core as we take another step towards
commercializing this deposit," said Stephen McIntosh, group
executive of Growth & Innovation and Health, Safety &
Environment.
"We are also assessing options for future expansion in the
Paterson region given the extent of mineralization identified to
date and our large land package," he added.
Write to David Winning at david.winning@wsj.com
(END) Dow Jones Newswires
July 27, 2020 19:09 ET (23:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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