Rio Tinto in Talks With Vitol Over Venture to Cut Freight Costs
AI Summary
Rio Tinto Group is negotiating with Vitol Group to create a joint venture focused on freight and logistics to reduce costs, following recent failed talks to acquire Glencore Plc. This potential deal is significant for mining and commodity trading sectors.
Rio Tinto Group is in talks with oil-trading giant Vitol Group about setting up a freight and logistics joint venture, less than five months after ending talks to buy rival miner and trader Glencore Plc.
Markets Deals Commodities Shipping Rio Tinto Vitol joint venture freight costs logistics mining commodity trading