BHP Billiton and Rio Tinto are to participate in a joint venture after BHP signed an exploration and development alliance with Russian mining giant Norilsk Nickel. The alliance follows a deal Rio signed with Norilsk in January.The two companies will search different geographic regions for the next generation of world-class deposits through their separate alliances with Norilsk.
The Sydney Morning Herald reports that, "BHP will target a range of commodities in north-west Russia and western Siberia, while Rio is searching for gold, copper and other metals in eastern Russia and south-east Siberia".
