NMDC and rio in MoU renewal talks

摘要

Indian state-owned miner NDMC Ltd is in talks with Rio Tinto to renew an earlier agreement for iron ore mining and exploration that expired nearly a year ago, an Indian source close to the development confirmed. The two mining companies had signed a memorandum of understanding in August 2008 under which they proposed to form a 50:50 joint venture to acquire, explore and develop mineral assets - primarily iron ore - in India and abroad.