Rio Tinto(US:RIO) Wen Hua Cai Jing·2025-05-12 10:54Group 1 - Rio Tinto and Sumitomo Metal Mining signed a final joint venture agreement for the Winu copper-gold project in Western Australia, expected to complete this year [1] - The Winu project, discovered by Rio Tinto in 2017, is considered an attractive low-risk, long-life copper-gold deposit with promising expansion prospects after initial development [1] - Rio Tinto will continue to develop and operate the Winu project, while Sumitomo Metal Mining will pay up to $430.4 million for a 30% stake, including a $195 million upfront payment and $235.4 million in deferred payments [1] Group 2 - Both companies will explore broader strategic partnerships in copper, other base metals, and lithium for commercial, technical, and strategic collaboration opportunities [2] - The transaction is expected to be completed by 2025, pending regulatory approval and typical conditions [2]