Maputo, Mozambique — 22 March 2013 – Rio Tinto Ventures (Mauritius), a subsidiary of Anglo-Australian mining giant Rio Tinto, and Mozambican mining company Empresa Mozambicana de Exploração Mineira (EMEM), have set up a partnership for coal prospecting in the country’s Tete province.
Called Minas de Changara, the new company “’ in which the Rio Tinto group owns 75% and EMEM has the remaining25% “’ will start operating with a portfolio of three coal prospecting and research licenses already owned by Rio Tinto, via Rio Tinto Changara, reports Macauhub News Agency.
The Anglo-Australian group will fund prospecting and research work, and the two partners will be responsible for financing the project’s development if the prospecting work shows that it is feasible for it to be developed.
Rio Tinto, which is listed on the Australian and London stock exchanges, is one of the world’s main mining groups and its portfolio of assets includes bauxite, copper, diamonds, gold, industrial minerals and iron ore.
EMEM is a state company set up in June 2009 whose focus is geological mining, advisory, consulting and technical assistance, prospecting and research for natural resources, and development of partnerships with other national and foreign companies.
Source: Macauhub News Agency. For more information, click here.