Rio Tinto and First Quantum Minerals formed a $105m joint venture.

Rio Tinto, a global mining group, and First Quantum Minerals, a Canadian-based mining and metals company, formed a $105m joint venture to progress the next phase of the La Granja copper project in Peru. “La Granja is an exciting but complex project that has the potential to be a significant new source of the copper that is needed for the energy transition. We are pleased to enter into this agreement with First Quantum, that will bring our combined development capabilities and deep knowledge of La Granja to progress the Project. This partnership underscores not only La Granja’s potential to be a significant copper producer, but Peru’s position as one of the world’s most important mining investment destinations,” Bold Baatar, Rio Tinto CEO.