Rio Tinto completes sale of Cortez Gold royalty for $525 million
Rio Tinto plc (LON:RIO) has completed the sale of a royalty it holds on an area including the Cortez mine operational area and the Fourmile development project in Nevada to RG Royalties LLC, a direct wholly-owned subsidiary of Royal Gold Inc., for $525 million in cash. The Cortez Royalty is a 1.2% gross production royalty on (i) the Cortez gold mine that is operated by Nevada Gold Mines, a joint venture between Barrick Gold Corporation ("Barrick") and Newmont Corporation
Rio Tinto completes sale of Cortez Gold royalty for $525 million
Rio Tinto plc (LON:RIO) has completed the sale of a royalty it holds on an area including the Cortez mine operational area and the Fourmile development project in Nevada to RG Royalties LLC, a direct wholly-owned subsidiary of Royal Gold Inc., for $525 million in cash. The Cortez Royalty is a 1.2% gross production royalty on (i) the Cortez gold mine that is operated by Nevada Gold Mines, a joint venture between Barrick Gold Corporation ("Barrick") and Newmont Corporation