Rio Tinto May Earn Up To 80% Of LCL’s Liamu Project
Closing price · 2026-10-26: $0.008 · +23.08%
Rio Tinto has agreed to fund exploration at LCL Resources’ Liamu copper-gold project in Papua New Guinea, with the option to earn up to an 80% interest; the deal follows an earlier farm-in between the companies at the Ono project. Rio Tinto can earn an initial 51% by funding at least $6 million of exploration, then increase its interest by funding a further $40 million or meeting specified resource and study milestones. LCL shares rose around 23% on the day, alongside the announcement.