Rio Tinto to Establish JV With Minmetals for China Mineral Exploration

June 07, 2018 / www.4-traders.com / Article Link

By Carlo Martuscelli

Rio Tinto PLC (RIO.LN) said Thursday that is has signed an agreement to form a joint venture with Minmetals to explore mineral deposits in China.

The joint venture, which is equally split between the two parties, will have capital of 200 million yuan ($31.3 million), with an initial contribution of CNY35 million each within six months of the establishment of the joint venture, Rio Tinto said.

The agreement follows a technical collaboration contract signed in November.

Write to Carlo Martuscelli at [email protected]

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