Rio and Chinalco in Chinese tie-up

摘要

Global miner Rio Tinto Ltd and state-owned Chinese aluminium producer Chinalco have established a JV to explore for new mineral deposits in China, the companies announced in June. The new JV, the Chinalco Rio Tinto Exploration Co. Ltd (CRTX), will be 51%-owned by the Chinese firm and will concentrate on copper exploration as its immediate priority, with coal and potash to be considered at a later stage, Rio Tinto said.