New JV and farm-in signed between Agrimins (ASX:AMN) Tali Resources and Rio Tinto (ASX:RIO)

A farm-in and joint venture agreement has been signed between Tali Resources and Rio Tinto (ASX:RIO).

Tali is a private company which is 40 per cent owned by ASX listed Agrimin (ASX:AMN).

It is focused on exploring for precious and base metal deposits in the West Arunta and Madura regions of Western Australia.

The area is prospective for iron oxide copper-gold mineralisation.

Under the deal, Rio Tinto can earn a joint venture interest of up to 75 per cent in five tenements held by Tali, by providing staged funding for exploration.

Shares in Rio Tinto (ASX:RIO) are trading 1.23 per cent higher at $117.12.
 
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Source: Finance News Network