Rio Tinto Ltd and state-owned Aluminum Corporation of China （Chinalco） have agreed to establish a joint venture in China to explore for mineral deposits in the Asian nation.
The joint venture will explore mainland China for mineral deposits, with between three and five large-area exploration projects expected for initial focus.
Chinalco will hold a 51 per cent stake in the joint venture, which will be established next year, and Rio a 49 per cent stake.
The two companies announced the signing of a non-binding memorandum of understanding on the joint venture on Friday.
Rio Tinto will appoint the chief executive of the exploration joint venture, with the chairman of a five member board to be nominated by Chinalco.
Chinalco's expertise and understanding of the Chinese environment would complement Rio Tinto's application of world leading mining technologies and experience, Rio Tinto said.
"This exploration JV is the latest chapter in the rich history of partnerships between Rio Tinto and China," chief executive Tom Albanese said in a statement.
"The combination of skills provided by Rio Tinto and Chinalco offers great potential to unlock value for mutual benefit."
Relations between the two companies were strained during 2009 after Rio Tinto walked away from a proposed $US19.5 billion （$A21.3 billion） investment by Chinalco, and failed to agree on a benchmark iron ore price with the Asian nation's steel mills.
But those issues are now in the past, with Friday's announcement coming months after Rio Tinto and Chinalco announced plans to jointly develop the Simandou iron ore project in Guinea.
Rio Tinto shares were up $1.48, or 1.73 per cent, at $86.48 at 1518 AEDT.
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