15.4 C
Mining News

Joint venture of Bluejay and Rio Tinto

Rio Tinto Mining & Exploration Ltd notified Bluejay Mining that all remaining conditions of the joint-venture were satisfied. Bluejay Mining PLC said it will kick off work at the Enonkoski project in Finland after a Rio Tinto PLC exploration arm agreed to a joint-venture. The pact could in stages see Rio take a 75% stake at the nickel project by completing USD20.0 million worth of expenditure.

“I am delighted to inform the market that we have received confirmation that the remaining conditions for the commencement of the joint-venture agreement with Rio Tinto have been met. As much of the due diligence work was completed prior to signing of the JV agreement, I am pleased to see that we have together been able to quickly move forward with the near-mine geophysical surveys and other data acquisitions all aiming to further refine targets to be tested by drilling in 2021,” said Thomas Levin, chief operating officer of Bluejay unit FinnAust.

Supported by

Source: morningstar.co.uk



Related posts

Only solution is to form an independent body which will take a role in evaluating the Jadar project and its importance for Serbia

David Lazarevic

Rio Tinto has spent more than a million euros on land in Serbia at the proposed site of a lithium mine that was eventually cancelled a year ago


Serbia, The real plans of the Jadar project

error: Content is protected !!