Rio Tinto and Chinalco have signed a memorandum of understanding (MoU) to join forces in the development of new mining technology.

As part of the MoU, both parties will focus on uaing their respective strengths to speed up the development of new technology, while also developing Rio Tinto’s Mine of the Future scheme.

Rio Tinto chief executive Sam Walsh said: "Together with Chinalco, we have the potential to deliver even more value for shareholders, by fully realising our pipeline of technology and innovation projects and taking next generation technologies through to full commercialisation and deployment."

By exploring Rio Tinto’s mining innovation and Chinalco’s research and development centres, the collaboration allows the development and deployment of technology to build safer working operations, enhance environmental performance, and boost the productivity of mining operations.

Chinalco chairman Xiong Weiping said both the companies have explored and set up a new model of partnership as two international companies.

"The technical cooperation is of great significance for improving efficiency, reducing resource and energy consumption, developing green and safe mines, achieving sustainable development of resources and introducing innovation into economic growth," Weiping said.

"I hope this commercial cooperation approach of sincerity and mutual benefit can be widely applied into new-type partnerships among major international companies".

The MoU will also be focused on improving the importance of partner networks of both the firms through the development of new ideas and their application.

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