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Article: Norilsk gets 51% of JV with Rio Tinto (Part 3).
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- January 27, 2006
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Norilsk gets 51% of JV with Rio Tinto (Part 3)
MOSCOW. Jan 27 (Interfax) - MMC Norilsk Nickel (RTS: GMKN) owns 51% of the equity in a joint venture with Rio Tinto, the companies said in a joint press release.
Rio Tinto, the world's third biggest mining company, receives 49% of the joint venture, which will explore and develop mineral deposits in Russia.
An agreement on the terms for the joint venture's operations was signed on Friday.
Initially, exploration will be concentrated in Siberia and the Far Eastern federal district, the release said.
"The companies yesterday [on January 26] signed a co-operation protocol in the ...