Rio takes stake in Canadian developer

MINING major Rio Tinto has made a C$25.6 million strategic investment in Toronto-listed Western Copper and Gold to advance the Casino copper-gold project in Yukon, Canada.

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Western Copper and Gold's Casino project in Yukon, Canada

Rio agreed to purchase 11.8 million shares in the junior at $2.17 per share, a 15% premium, to take an 8% stake in the company.