Agreement With Rio Tinto Unlocks Potential Development of BRE's Advanced High-Grade Bauxite-Gallium Project [Yahoo! Finance]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: Yahoo! Finance
into a binding agreement with Rio de Contas Desenvolvimentos Minerais Ltda. (Rio Tinto Brazil) to amend the Amargosa Tenement Acquisition Agreement. Amargosa Bauxite Project Amargosa is an advanced stage, large-scale bauxite project acquired from Rio Tinto in 2023, adjacent to select BRE rare earth tenements in Bahia, Brazil The large-scale bauxite project benefits from over 10 years of exploration by Rio Tinto, including 56,919 metres of drilling across 4,257 holes and detailed geological data sets Exploration to date has confirmed thick, high-grade bauxite zones from surface, including intercepts such as 27.5 metres at 51.3% total available alumina content with low levels of reactive silica and iron BRE and Rio Tinto have signed a binding agreement to replace the existing US$40m bauxite milestone payment at the Amargosa Bauxite Project with a fixed US$1.00/wet tonne royalty on future bauxite sales High-Grade Gallium Discovery BRE has re-assayed 1,275 Rio Tinto bauxite
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