research Market Intelligence /marketintelligence/en/news-insights/research/rio-tintos-winu-1st-major-copper-discovery-in-past-3-years content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Rio Tinto's Winu 1st Major Copper Discovery in Past 3 Years

Essential Metals & Mining Insights - August 2020

State of the Market: Mining Q2-2020

Report Outlooks of Lithium and Cobalt

Amid a Pandemic, Green Electricity Charts a Course Forward


Rio Tinto's Winu 1st Major Copper Discovery in Past 3 Years

Rio Tinto recently reported an initial resource for the Winu deposit in Western Australia. At 1.8 million tonnes of contained copper, Winu is the most recent major discovery and also the largest in the past five years. Although it is encouraging to see the announcement of a significant new resource, this discovery unfortunately does little to alter the long-term trend of declining discovery rates. We continue to assess that current levels of exploration spending are insufficient to meet future demand, as demonstrated in declining discovery rates and a thinning project pipeline.

SNL Image

Winu was discovered during a 13,286-meter diamond drill and reverse circulation drill program conducted between December 2017 and the end of 2018 as part of a copper discovery program in the Paterson Province. The inferred resource, announced in late July, totals 503 Mt grading 0.35% copper, 0.27 grams per tonne gold and 2.15 g/t silver, making the deposit not only a major copper discovery but a major gold discovery as well. The deposit remains open at depth, to the north and to the southeast, meaning it will likely increase in size over the coming years. Rio is assessing development of the deposit as an open pit, with first production possible as early as 2023.

SNL Image

While a significant recent discovery, Winu is tied for the 126th-largest discovery since 1990. Our previously released copper discovery article has more information on trends and a list of all discoveries.

This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.

Learn more about Market Intelligence
Request Demo