Rio Tinto in mining technology alliance

12th Nov 2009 08:10

Mining giant Rio Tinto has entered into a technology alliance agreement with Chilean copper miner Codelco.Codelco, more formally known as the Corporación Nacional del Cobre de Chile, and Rio will work together on ‘next generation copper mining’ and processign technology development.The aim of the joint venture, known as Rio de Cobre (River of Copper), is to deliver safer, more energy efficient and lower cost of production, while operating with a lower a overall environmental impact.The chairman and the vice-chairman of Rio de Cobre will be independent of Rio Tinto and Codelco. ‘Combining the Rio Tinto Mine of the Future effort with the industry renowned copper technology expertise of Codelco positions both of our companies to best confront the challenges posed by the increasing demand for copper,’ claimed Rio Tinto’s chief executive, Tom Albanese.Codelco’s chief executive, Jose Pablo Arellano, added: ‘This initiative will make possible a major technological breakthrough collaboration between the world's largest innovators in the mining industry, starting the effort to meet the challenges in underground mine where we have the largest operation projects in the copper industry,’