The Asia Miner

JUL-SEP 2018

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Page 39 of 55

the asia miner • volume 15 • issue 3 38 AROUND THE REGION Rio Tinto and Minmetals have formalised a Joint Venture Contract to establish a 50:50 joint venture to explore for world-class mineral deposits in China. It follows a Technical Collaboraঞon Contract signed in November 2017 when both companies commied to a collaboraঞve partnership in mineral exploraঞon. Rio Tinto Chief Execuঞve J-S Jacques sees the formalisaঞon of the exploraঞon joint venture as an important milestone in Rio Tinto's growing partnership with China and Minmetals. "Our complementary strengths in exploraঞon put us in the best possible posiঞon to find metals and minerals essenঞal to human progress", said Mr Jacques. China Minmetals Corporaঞon president Guo Wenqing said, "The collaboraঞon is very significant to Minmetals. Rio Tinto has rich prospecঞng experience and great discoveries worldwide, while Minmetals has solid technical experঞse and extensive experience – the two strong partners will drive breakthroughs, pioneer progress, and promote the exchanges and collaboraঞon of the global resource industry." The immediate priority for the joint venture will be mineral targets in China that are idenঞfied under the Technical Collaboraঞon Agreement. Future collaboraঞon will expand to exploraঞon of global resources. The registered capital of the joint venture will be RMB200M (US$31.3 million) with iniঞal contribuঞons of RMB35M (US$5.5 million) by each party within approximately six months of establishment of the joint venture. Any further capital contribuঞons will be subject to unanimous approval of the parঞes and linked to agreed target areas. Image source ©Rio Tinto Rio Tinto and Minmetals formalise joint venture 力拓与五矿组建合资企业 力拓和五矿集团签署了一项合资合同,成立一个 50:50 此前,力拓与五矿于2017年11月签署了技术合作 作关系。 成立是力拓加强与中国合作的重要里程碑。 动人类进步的金属和矿物,"夏杰思先生表示。 五矿集团总经理国文清表示:"此次合作对中国 团队也具有坚实的技术和经验支撑,双方强强联 探行业的交流与合作。" 该合资公司将优先在根据双方技术合作协议所选 合资公司的注册资本为人民币2亿元(3130万美 元),在合资公司成立后约六个月内,各方将分 别注入人民币3500万元人民币(550万美元)的 探的靶区,经双方一致批准后投入。

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