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Rio Tinto Limited Keen To Revive JV With OMC-Economic Times


Thursday, 18 Oct 2012 07:23pm EDT 

The Economic Times reported that though state-owned Odisha Mining Corporation has rejected a 17-year-old joint venture (JV) with Rio Tinto Limited terming as not being lucrative, the Australian mining company is keen to revive the INR11,000 crore (INR110 billion) pact. Though Rio Tinto had entered into a JV with OMC in 1995 for development of Gandhamardhan and Malangtoli iron ore reserves in Keonjhar and Sundergarh districts, it did not materialise following dispute relating to the quantity of export of mineral from the state. 

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