Rio Tinto considers 15 million USD entry into Mogotes Metals

Mogotes Metals Inc. has reported significant developments following its first fully funded drilling season, which identified two new copper-gold-silver-molybdenum systems. The company is currently considering a strategic entry by Rio Tinto, which may involve a 15 million USD investment. Additionally, CD Capital may provide further funding, though both financial arrangements remain unfinalized.

Drilling results from the ‘Albor’ site included an interval of 180 meters with 0.98% copper equivalent. These developments occur amid a projected global copper supply gap, with the International Energy Agency estimating a 25% deficit by 2035 due to declining ore grades and high capital costs.