Rio Tinto agrees to acquire Australia's Aurukun bauxite project

Global mining giant Rio Tinto has issued a statement announcing that it has agreed to acquire the Aurukun bauxite project in northeastern Australia from Glencore and Mitsubishi Development. A Rio Tinto spokesperson stated: “The acquisition price has not been disclosed and is subject to approval by the Queensland state government and other Australian regulatory authorities.” According to the statement, Aurukun currently holds a mineral development license, but a mining lease has not yet been granted. The project is located near Rio Tinto’s existing bauxite mines in Western Cape York.