Rio Tinto, Savannah combine Moz assets

Diversified mining giant Rio Tinto International and Savannah Resources subsidiary AME East Africa on Monday announced plans to merge their Mozambique-based adjacent heavy minerals sands assets into an unincorporated joint venture (JV). Savannah would be the operator of AME’s Mutamba, Dongane and Jangamo prospects, as well as Rio Tinto’s Chilubane prospect, earning up to 51% of the now combined Mutamba-Jangamo JV project by funding and completing the scoping, prefeasibility and feasibility studies.