Rio Tinto, Prokhorov May Form Russian Venture, Kommersant Says

NEWYORK, Mar. 25 -- Rio Tinto Group may form a Russian venture with billionaire Mikhail Prokhorov's Intergeo mining company, Kommersant said, citing unidentified people familiar with the matter.

Prokhorov holds 12 licenses to develop deposits of metals including copper and nickel in Siberia and the Far East that he bought from Vladimir Potanin, the biggest shareholder of OAO GMK Norilsk Nickel, the Moscow-based newspaper said.

Norilsk Nickel, Russia's biggest mining company, last year ended its exploration venture with Rio Tinto, Kommersant said.