NMDC, Rio mull JV to buy mining assets

Ishita Ayan Dutt / Kolkata August 06, 2008, 0:24 IST

Besides acquiring global assets, the partnership could be extended to domestic market.

State-owned mining firm NMDC is in talks with Rio Tinto, the world's second largest diversified mining company, for a 50:50 joint venture, which would bid for global mining assets.

NMDC chairman and managing director Rana Som said, "We are in discussion for a 50:50 joint venture. Rio Tinto was one of the international parties to evince interest in establishing a joint venture when we floated a tender.'