Chinalco Rio Tinto Exploration (CRTX) has received approval from the Industrial and Commercial Administration of China to explore mineral deposits in the country.
CRTX is a joint venture between Rio Tinto and the Aluminum Corporation of China (Chinalco), each holding a 49% and 51% stake respectively.
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The company will initially explore for copper and expand its operation to coal and potash in the future.
Combining the integrated advantages of Chinalco and Rio Tinto, CRTX will primarily focus on developing and exploring deep metallogenic belts in a complex landscape.
The firm will also offer its world-class mining resources to mutually develop and improve the domestic resources supply capabilities in China.
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