SYDNEY, Oct. 12 (Xinhua) -- Global mining giant Rio Tinto has invested 60 million Australian dollars (about 44 U.S. dollars) on a gold and copper exploration project in Western Australia, local media reported Monday.
Under a farm-in agreement with Australian mineral explorer Antipa Minerals, Rio will increase its stake in the joint venture up to 75 percent if the agreement goes to term, Antipa announced to the Australian Securities Exchange.
The gold and copper project is located 75 kilometers north of gold giant Newcrest Mining's Telfer mine in Western Australia's mineral rich Paterson Province, though Antipa has exploration licences that extend to within five kilometers of Telfer.
