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Rio Tinto Group Secures Agreement With Nyangumarta People for Western Australia Mine; Shares Down 4%

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Rio Tinto Group (ASX:RIO) secured an agreement with the Nyangumarta Warrarn Aboriginal Corporation for the proposed Winu mine on Nyangumarta Country in Western Australia, the mining and metals company said in a statement on Thursday.

The agreement outlines how the company will collaborate with Nyangumarta People and how Nyangumarta knowledge, priorities, and perspectives will inform planning and implementation of activities, per the statement.

Nyangumarta People gave their consent for the proposed mine and associated infrastructure through the agreement.

The project is a joint venture partnership wherein Rio Tinto holds a 70% interest and Sumitomo Metal Mining Co holds a 30% interest.

Rio Tinto shares fell nearly 4% in midday trade Thursday.

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