BRC Diamondcore, Rio in DRC venture

[miningmx.com] — BRC DiamondCore said it entered into a joint venture agreement with Rio Tinto for a new exploration program in northern Democratic Republic of Congo.

Rio Tinto will fund the proposed new exploration program over the DRC North Project up to and including a pre-feasibility study.

Canada-based BRC will have a 30% interest in the project at that stage, after which funding would be in proportion to equity.

BRC also said it plans to resume exploration for diamonds at its properties in Province Orientale in northeastern Congo after a force majeur was lifted.