Rio Tinto to invest $9.3 million in technology startups

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Rio Tinto said on Wednesday it is teaming up with a global venture studio and start-up investor to back the development and commercialisation of breakthrough technologies in the mining industry.

Each start-up will receive a cash investment and participate in a four-month accelerator program run by Founders Factory to support product development and commercialisation. The partnerships with Rio Tinto and the Western Australian Government will support the first Australian hub of Founders Factory in Perth. The company currently operates in London, Johannesburg, Milan, Berlin, Bratislava, New York and Singapore.

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