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Rio Tinto's partner in the Australian copper project reported that “the degree of mineralizatio

Release date:2018-12-14  source:粉体网  Browse times:2690
       Antipa Minerals, a company that explored the Western Australia copper project, said on Tuesday that it has not been able to find any economically viable ore mineral assets. In a Tuesday update, the junior miner noted the “weak mineralization” of the Folly target area, which is part of the Citadel project, located in Patterson province in the remote parts of the Western Australian Great Desert. Antipa is also conducting exploration activities at the North Telfer project, 40 km north of the world-class Telfer copper and gold mine in Newcrest, and notes that the Citadel project “has no envisioned follow-up” at this stage.
Through an agreement signed in 2015, Rio Tinto has the right to earn up to 75% of its revenue in Citadel after spending $60 million (US$43 million) in exploration. Citadel is not the only copper project Rio Tinto is considering. The company has applied for nearly 30 exploration licenses in Patterson, and many see it as a clear indicator of a very promising discovery.
Rio Tinto is still exploring Mongolia to continue to explore the Oyu Tolgoi copper and gold mines.
Last year, Rio Tinto applied for an exploration permit in the Arica region of northern Chile. The company already owns a minority stake in Escondida, the world's largest copper mine.
Rio Tinto is not the only mining company to seek copper assets, which is seen as one of the strongest prospects. It is expected that the boom in electric vehicles and the demand for renewable energy will increase demand for metals.

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