Rio Tinto Expects Decision on Pandemic-Delayed Winu Project by Year-End
May 06 2021 - 6:12AM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--A decision on whether Rio Tinto PLC will develop its
Winu copper-and-gold deposit in Western Australia has been delayed
by the Covid-19 pandemic, but is likely to happen before the end of
2021, Chief Executive Jakob Stausholm said Thursday.
"We will have to consider whether to sanction a project [at
Winu] before the end of this year," but "Covid has slowed it down,"
he told reporters after a shareholder meeting in Australia. "We
probably had expected to do it a little bit earlier, but it still
makes it a very, very fast development."
Mr. Stausholm said he couldn't provide an exact time frame on
when a decision would be made.
Rio Tinto has previously said it could be operating a mine at
the deposit, which it discovered in 2019, in 2024.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
May 06, 2021 05:57 ET (09:57 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Rio Tinto (LSE:RIO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Rio Tinto (LSE:RIO)
Historical Stock Chart
From Sep 2023 to Sep 2024