09:16 AM EDT, 04/10/2024 (MT Newswires) -- Rio Tinto (RIO) said late Tuesday that it is collaborating with venture studio and startup investor Founders Factory to invest 14.4 million Australian dollars ($9.5 million) over the coming three years in global pre-seed and seed stage startups related to safe mine operations, decarbonization, exploration processing, and automation.

The mining company said the initiative requires each startup to receive a cash investment and take part in a four-month accelerator program run by Founders Factory to promote product development and commercialization.

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