MOSCOW and LONDON, U.K. -- Two mining giants, MMC NORILSK NICKEL of Russia and BHP BILLITON of the United Kingdom, are teaming up to explore and develop mineral resources in the Russian Federation. Their agreement calls for the creation of joint venture exploration and development companies to be owned 50% plus one share by Norilsk and 50% minus one share by BHP Billiton.
The partners will initially examine the Russian northwest and western Siberia for a long list of commodities. Norilsk will supply the in-country knowledge and experience. BHP Billiton will bring its global expertise and world-class technology to the alliance.
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