By Kyle Morris

 

Rio Tinto PLC said Tuesday that it has completed the sale of a gold royalty on an area including the Cortez mine operational area and the Fourmile development project in Nevada to RG Royalties LLC for $525 million in cash.

The mining company said the deal unlocks value from the portfolio and releases cash immediately.

RG Royalties is a direct, wholly owned subsidiary of Royal Gold Inc.

 

Write to Kyle Morris at kyle.morris@dowjones.com

 

(END) Dow Jones Newswires

August 02, 2022 02:48 ET (06:48 GMT)

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