Laramide, Rio Tinto team up to explore

Laramide Resources has announced it has concluded a joint venture agreement with Rio Tinto Exploration covering two uranium tenements in Australia's Northern Territory. Laramide describes the Murphy uranium province, where the tenements are located, as one of the world's "attractive" underexplored uranium provinces. Laramide says it has already firmly committed A$1 million ($1 million) towards a four-year exploration and development project estimated to cost A$10 million ($10.6 million). Rio Tinto Exploration is working to secure the necessary exploration agreements with traditional landowners necessary for the program to commence later this year.