Western Copper Partner Rio Tinto Participates in Strategic Investment for C$2.3M

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 [e-mail]

(END) Dow Jones Newswires

04-11-23 0658ET