Global miner Rio Tinto enters Kazakhstan.

By bne IntelliNews July 1, 2010
Global miner Rio Tinto is entering Kazakhstan. The company signs a memorandum with Kazakh state company Tau-Ken Samruk on joint prospecting and mining in Kazakhstan. The Kazakh side will supply rights and permission while Rio Tinto will provide technology. The parties plan to create a joint venture on parity basis. The deal was welcomed by the Kazakh authorities as investment in exploration decreased in past few years due to falling commodity prices. Tau-Ken Samruk is an arm of sovereign fund SamrukKazyna for metals and mining.

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