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Rio Tinto (ASX:RIO) has agreed to acquire the Aurukun Bauxite Project in Western Cape York, Queensland, from a joint venture involving Glencore and Mitsubishi Development. Financial terms were not disclosed; the deal remains subject to Queensland approvals.
Rio Tinto said it has agreed to buy the Aurukun bauxite project in Australia from Glencore and Mitsubishi, bolstering resources for future production of bauxite used to make aluminum.