19.7 C
Belgrade
Supported byspot_img
spot_img

Rio Tinto to explore Serbia in Raiden JV

Member of Europium Groupspot_img
Supported byspot_img

Rio Tinto has formed an exploration partnership in Serbia with ASX-listed junior Raiden Resources.

The earn-in and JV agreement covers Raiden’s Zapadni Majdanpek, Majdanpek Pojas and Donje Nevlje exploration licences within the Western Tethyan Metallogenic Belt in Eastern Europe, which hosts numerous tier one copper-gold porphyry and associated mineral deposits.

Rio has secured an option to spend up to $US31.5 million ($40.1 million) over three stages to earn up to a 75 per cent interest in the licences.

Supported by

The major miner will be appointed JV manager and will fund the project until the earlier of: the date it elects not to continue with an earn-in stage; the end of the earn-in period; and termination of the agreement.

Raiden executive director Dusko Ljubojevic said Rio provided the funding capacity to unlock the potential of the Serbian projects.

“In our opinion, this validates the prospectivity of our licences and we look forward to working closely with the Rio team and realising the potential of the JV properties,” Ljubojevic said.

“It also enables us to focus on exploration in our retained licences to rapidly deploy our planned exploration program.”

Raiden plans to launch exploration during the first half of 2018 at the four projects it retains.

The agreement boosts Rio’s presence in Serbia. The miner also signed a memorandum of understanding with the Serbian Government for the development of the Jadar lithium-borate project in July last year.

Source: australianmining

Supported byElevatePR Digital

Related News

Rio Tinto challenges Serbian government with arbitration notice on Jadar project

Background of the dispute: Jadar project and environmental protests The British-Serbian activist group Earth Thrive has reported that Rio Tinto has officially notified the Serbian...

There is no technology that guarantees the safe processing of lithium in the form it exists in Serbia

The Rio Tinto lithium mining project has never been conclusively dismissed, just paused, waiting for the dust to settle before being reintroduced with even...

“Jadar” will not pollute river streams

As the discussion about the "Jadar" project has reignited in recent days, the public in Serbia remains confused by the extremely contradictory narratives about...

Serbia’s lithium mining revival: Implications for EU membership and geopolitics

Serbia is aiming to position itself as a significant supplier of lithium in Europe, reviving a contentious mining project that was previously abandoned due...
Supported by
Supported by
Supported by
error: Content is protected !!