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Rio Tinto closes deal to buy stake in Western Copper and Gold

Last Updated May 31, 2021 at 8:44 am MDT

VANCOUVER — Western Copper and Gold Corp. says Rio Tinto Canada Inc. has completed a $25.6-million investment in the company.

The Vancouver-based company says the money will be used to help advance its copper-and-gold Casino project in the Yukon.

Western says Rio Tinto has acquired 11.8 million shares at a price of $1.27 per share.

As a result, Rio Tinto now holds an 8.0 per cent stake in the company.

Western has been developing the Casino project since 2008. 

It is located 300 kilometres northwest of Whitehorse.

This report by The Canadian Press was first published May 31, 2021.

Companies in this story: (TSX:WRN)

The Canadian Press