Fertiliser developer Agrimin Ltd said on Friday its unit had signed a farm-in deal with Rio Tinto for sale of up to a 75% stake in five copper-gold licenses it holds in the West Arunta region of Western Australia.
The farm-in and joint-venture deal is with Agrimin’s 40%-owned unit Tali Resources Pty, and does not include any of Agrimin’s tenements and does not cover any areas associated with its Mackay Potash Project.
Agrimin said Rio can earn the stake through funding exploration in the licenses in stages, and the 2021 exploration plan will be finalised by Tali and Rio Tinto in the coming weeks.
(By Arundhati Dutta; Editing by Uttaresh.V)
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