Rio Tinto "entered into a binding agreement to acquire the Platina Scandium Project, a high-grade scandium resource in New South Wales, from Platina Resources Limited for $14 million. The project, near Condobolin in central New South Wales, comprises a long life, high-grade scalable resource that could produce up to 40 tonnes per annum of scandium oxide, for an estimated period of 30 years. Rio Tinto currently produces scandium oxide from titanium dioxide production waste streams at Sorel-Tracy in Quebec. Once operational, the Platina Scandium Project would enable Rio Tinto to more than double its annual scandium production."
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