Norilsk ends JV, Rio Tinto says talks continue

Even as Russian nickel producer Norilsk Nickel confirmed that it was withdrawing from its joint-venture with Rio Tinto, in order to “concentrate its efforts on current projects”, a spokesperson for Rio said that the two parties were in “discussions” and that the JV remained in place for the time being. The JV, known as RioNor exploration, was formed in 2006, with the aim of jointly exploring and developing deposits in Russia. RioNor Exploration is 51% owned by Norilsk Nickel and 49% by Rio Tinto.