By Carlo Martuscelli
Rio Tinto PLC (RIO.LN) said Thursday that is has signed an agreement to form a joint venture with Minmetals to explore mineral deposits in China.
The joint venture, which is equally split between the two parties, will have capital of 200 million yuan ($31.3 million), with an initial contribution of CNY35 million each within six months of the establishment of the joint venture, Rio Tinto said.
The agreement follows a technical collaboration contract signed in November.
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