Rio Tinto completed the acquisition of a 57.74% stake in Agua de la Falda from Pan American Silver for $45m.

Rio Tinto, a global mining group, completed the acquisition of a 57.74% stake in Agua de la Falda, a mining operations company located in Atacama region in Chile, from Pan American Silver, a mining company based in Canada with operations in Latin America, for $45m. “Copper is critical for the global energy transition, which is at the heart of Rio Tinto’s strategy, and Chile is one of the most important sources of world supply as demand for copper in renewables and electrification grows. Partnerships are essential to find better ways to provide materials the world needs, and we are pleased we can bring our global exploration capability to a joint venture that will be able to access Codelco’s strong local presence and industry expertise," Jakob Stausholm, Rio Tinto CEO.