PERTH, Australia--(BUSINESS WIRE)--Rio Tinto and BHP have agreed to work together to extract up to 200 million tonnes of iron ore at their neighbouring Yandicoogina and Yandi iron ore operations in the Pilbara. Under two non-binding Memoranda of Understanding (MOUs), the companies will explore the potential for: These new opportunities build on a 2023 agreement between Rio Tinto and BHP to mine the Mungadoo Pillar, which allowed mining of ore from the shared tenure boundary that was previously inaccessible. ...

Core Viewpoint - Monument Mining Limited has signed a Memorandum of Understanding (MOU) with Odyssey Gold Limited to collaborate on processing ore from the Tuckanarra Gold Project at Monument's Burnakura Mill, enhancing production potential in the Murchison region [1][4]. Company Overview - Monument Mining Limited is a Canadian gold producer that fully owns and operates the Selinsing Gold Mine in Malaysia and the Murchison Gold Project in Western Australia. The company holds a 20% interest in the Tuckanarra Gold Project, which is jointly owned with Odyssey Gold [11]. Collaboration Details - The MOU is a non-binding agreement that establishes a framework for evaluating the sustainability of the Burnakura plant for treating Tuckanarra ore, assessing technical and commercial requirements for joint operations, and negotiating commercial terms for ore treatment [8][10]. - The collaboration aims to optimize mining and ore processing by sharing study outputs and leveraging each company's technical expertise, including Odyssey's knowledge of local geology and Monument's processing and metallurgy skills [9][10]. Project Specifics - Under the existing joint venture, Monument holds a 20% free carrying interest in Tuckanarra, while Odyssey owns the remaining 80%. The Tuckanarra project has an indicated and inferred mineral resource estimate of 5.14 million tonnes at 2.5 grams per tonne gold, totaling 407,000 ounces [2][7]. - Monument's Burnakura Mill has a capacity that could potentially be upgraded to process up to 750,000 tonnes per annum [5]. Strategic Importance - The collaboration is seen as a win-win opportunity that may extend the mine life of the Murchison Gold Project, accelerate capital returns, and enhance free cash flow for both companies [4][5]. - By integrating Tuckanarra's potential ore into Monument's mine plan, production could increase by up to 20% from Tuckanarra resources, improving mill capacity utilization [4][5].