This post was originally published on this site.Rio Tinto (ASX: RIO) has agreed to acquire the Aurukun Bauxite Project in Queensland, previously a joint venture between Glencore (LON: GLEN) and Mitsubishi Development, a company spokesperson told Reuters.  The deal would expand Rio’s existing bauxite operations in the region, with its Welpa operations located approximately 200km north. Weipa produces over 30 million tonnes of bauxite annually, which is refined into alumina before being processed into aluminum metal.  Glencore held a majority stake in Aurukun, while Mitsubishi owned about 30%. Glencore previously said it had invested significant resources to advance the project over the years, according to Reuters.  Both companies agreed that Rio Tinto would provide the best opportunity for the project’s future development since it already operates bauxite mines in the...

This post was originally published on this site.Marimaca Copper (TSX: MARI; ASX: MC2) has cut 216 metres grading nearly 1% copper at Pampa Medina in Chile’s Antofagasta Region while step-out drilling pushed the copper-silver system 300 metres beyond earlier holes. Hole SPRD-15 returned 216 metres grading 0.96% copper and 7.2 grams silver per tonne from 466 metres downhole, including 62 metres at 2.2% copper and 21.5 grams silver from 602 metres, Marimaca said Tuesday. Pampa Medina lies 28 km east of Marimaca’s more advanced oxide depositwithin 40 km of Antofagasta, the mining region’s capital. “Pampa Medina remains open in several...