Rio Tinto, Minmetals Formalise JV To Explore Mineral Deposits - Quick Facts

(RTTNews) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) announced the company and Minmetals formalised a Joint Venture Contract to establish a 50:50 joint venture to explore mineral deposits in China. It follows a Technical Collaboration Contract signed in November 2017.

The registered capital of the joint venture will be $31.3 million with initial contributions of $5.5 million by each party within approximately 6 months of establishment of the joint venture.

The immediate priority for the joint venture will be mineral targets in China. The future collaboration of the parties will expand to exploration of global resources.