Rio Tinto Ltd
(ASX:RIO) says it has partnered with Chinalco for exploration in China.
The joint venture will explore mainland China for mineral deposits and is expected to start in the first half of 2011.
Rio will hold a 49 per cent stake in the joint venture, while the remaining 51 per cent will be held by Chinalco.
Rio has also announced the extension of its Channar Mining joint venture with Sinosteel Corporation in the Pilbara of Western Australia.
Rio says the extension will lead the way for an additional 50 million tonnes of iron ore to be produced.
Rio Tinto generated a net profit $7.36 billion in the 2010 fiscal year.
