Rio tinto completes sale of cortez gold royalty for $525 million in cash

London--(business wire)--rio tinto has completed the sale of a royalty it holds on an area including the cortez mine operational area and the fourmile development project in nevada (the “cortez complex”) to rg royalties llc, a direct wholly-owned subsidiary of royal gold inc., for $525 million in cash. the cortez royalty is a 1.2%1 gross production royalty on (i) the cortez gold mine that is operated by nevada gold mines, a joint venture between barrick gold corporation (“barrick”) and newmont
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