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PERTH (miningweekly.com) – Russian nickel producer Norilsk Nickel on Thursday confirmed that it was withdrawing from its joint-venture (JV) with diversified miner Rio Tinto, in order to “concentrate its efforts on current projects”.
However, a spokesperson for Rio Tinto told Mining Weekly Online that the two parties were in “discussions” and that the JV remained in place for the time being.
The JV, known as RioNor exploration, was formed in 2006, with the aim of jointly exploring and developing deposits in Russia.
RioNor Exploration is 51%-owned by Norilsk Nickel and 49% by Rio Tinto.
The initial efforts of the company concentrated on exploration opportunities in the southern regions of the Siberian and Far Eastern Federal Districts of Russia.
At this stage, it was unknown how much either company had spent on the JV.
