Western Copper Partner Rio Tinto Participates in Strategic Investment for C$2.3M
April 11 2023 - 6:13AM
Dow Jones News
By Adriano Marchese
Western Copper & Gold Corp. said Tuesday its partner Rio
Tinto PLC will participate in a strategic investment and maintain
its interest in the company.
The company will issue 878,809 new shares to the
Anglo-Australian mining giant and receive 2.3 million Canadian
dollars ($1.7 million), which will be used to support Western
Copper's copper-gold project in the Yukon.
In late March, Western Copper announced that Mitsubishi
Materials Corp. made a strategic investment in the company for
C$21.3 million, noting that Rio Tinto had the right to participate
as well to maintain its current ownership of 7.84%.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 11, 2023 06:58 ET (10:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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