Rio Tinto: signs joint venture with China's Minmetals

(CercleFinance.com) - Rio Tinto, the world's second largest miner, has signed a a 50:50 joint venture with Chinese metals giant Minmetals to look for mineral deposits in China.


The project's immediate priority will be mineral targets in China, although the collaboration will soon expand to include exploration of global resources, the groups said.

Each partner will contribute around 5.5 million dollars within about six months after the joint venture is established, they said.

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