Codelco, Rio Tinto sign early agreement to weigh investments
Maricunga salt flat and Santa Rosa lagoon. (Image courtesy of Sergef | Flickr Commons.)
Chile’s Codelco, the world’s largest copper producer, and miner Rio Tinto signed a memorandum of understanding on Thursday to explore development and investment opportunities.
The companies agreed to form a joint steering committee of senior executives to identify pilot projects and oversee initiatives.
The agreement focuses on project management, operational standards and supply chain coordination.
Rio Tinto already partners with the Chilean state-owned company in the Nuevo Cobre copper project and lithium development at the Maricunga salt flat.
Codelco has been pursuing partnerships with international mining companies to help fund its capital-intensive expansion projects.
(By Fabian Cambero; Editing by Sarah Morland)
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