Rio tinto and codelco complete nuevo cobre exploration joint venture agreement

Tokyo--(business wire)--rio tinto has today completed the acquisition of panamerican silver's stake in agua de la falda and entered a joint venture with corporaciÓn nacional del cobre de chile (codelco) to explore and potentially develop the company's assets in chile's prospective atacama region. the acquisition, announced on 1 august 2023, comprises a 57.74% operating stake in agua de la falda for $45 million and the grant of net smelter returns royalties. it paves the way for rio tinto and co.
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