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Bullboard - Stock Discussion Forum Western Copper and Gold Corp T.WRN

Alternate Symbol(s):  WRN

Western Copper and Gold Corporation is a Canada-based exploration stage company. The Company is engaged in developing the Casino Project. The Casino Project is a copper-gold mining project in Yukon, Canada. The Casino porphyry copper-gold-molybdenum deposit is located in west central Yukon, in the northwest trending Dawson Range mountains, approximately 300 kilometers (km) northwest of the... see more

TSX:WRN - Post Discussion

Western Copper and Gold Corp > Rio invests in copper production !
View:
Post by Marine2 on Jun 21, 2023 7:46am

Rio invests in copper production !

Rio looking for ways to expand copper production !

(Next steps,,  securing "Casino Copper" IMO

Rio Tinto invests $498m in US copper production 

Rio Tinto invests $498m in US copper production

 

 

20th June 2023

By: Creamer Media Reporter 

 

Diversified miner Rio Tinto has approved $498-million of funding for the undergrounddevelopment of an area known as the North Rim Skarn (NRS) at the Kennecott operation near Salt Lake City, in Utah.

Production from the NRS will start next year and is expected to ramp up over two years, delivering about 250 000 t of additional mined copper over the next decade, alongside opencut operations.

In September last year, Rio Tinto approved $55-million to start underground mining in the Lower Commercial Skarn (LCS). Undergroundproduction in LCS started in February and will deliver 30 000 t/y of additional mined copper through the period to 2027.

These two investments will support Kennecott in building an undergroundmine, which will leverage battery electric vehicle technology.

Rio Tinto is also investing $300-million to rebuild the Kennecott smelter – the biggest rebuild in its history.

"We are investing to build a world class underground mine at Kennecott and strengthen our processing facilities, to meet the growing demand for copper in the United States, a key material for domestic manufacturing and the energy transition,” commented Rio Tinto Copper COO Clayton Walker.

The miner is studying the next phases of expanding underground production in parallel with work that is being advanced to extend openpit mining at Kennecott beyond 2032. 

 

Comment by MetalMinded on Jun 21, 2023 8:28am
This is a short term move that makes complete sense for them and in no way impacts any decision regarding Casino.  The two timelines are very different.  As RIO pursues longer term assets for its portfolio, it needs to continue to be prepared to take advantage of midterm supply shortages with existing assets or "ready" acquisitions.  I still believe that any RIO offer for ...more  
Comment by CopperAndGold14 on Jun 21, 2023 11:19am
I agree the Utah investment is not directly related to Casino, but we can gain insight into the financial calculations that are making sense for RIO to secure additional copper supply in the short term.  They are basically paying $500M USD now, to produce a 10-year revenue stream of around $230M a year. (based on $4/lb copper)  I think the key point of the Utah transaction is that it ...more  
Comment by Sooner on Jun 21, 2023 6:28pm
$500M spend to get $2.3B sales over 10 year period versus Casino would be  spending $3B capex --- plus let's just assume $1B WRN purchase is $4B ....for $35B sales over 27 years... as we continue watching the paint dry on the wall....November quickly approaches at which time I guess we just keep pushing things out .... Dale...do you still think Rio is almost done with their due ...more  
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