trending Market Intelligence /marketintelligence/en/news-insights/trending/hpjqcu8t4rcet6ptlk8lqg2 content esgSubNav
In This List

Rio Tinto, Minmetals formalize 50/50 Chinese exploration JV

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Rio Tinto, Minmetals formalize 50/50 Chinese exploration JV

Rio Tinto and China Minmetals Corp. entered into a formal agreement for their 50/50 exploration joint venture in China.

The joint venture will have a registered capital of 200 million Chinese yuan, with initial contributions of 35 million yuan from each party within six months.

According to a June 7 release, the joint venture will initially prioritize mineral targets in China and will later expand to exploration of global resources.

The formal agreement was signed by Rio Tinto Minerals Development Ltd. and Minmetals Exploration & Development Co. Ltd.

The companies signed a technical collaboration agreement in November 2017 to pursue exploration opportunities in China and abroad.

As of June 6, US$1 was equivalent to 6.39 Chinese yuan.