RIO TINTO SIGNS AGREEMENT WITH JAPANESE PARTNERS.

PERTH, Nov 1 Asia Pulse - The world's second largest iron ore miner, Rio Tinto Ltd (ASX:RIO), has formalised closer cooperation with its Japanese partners in the Pilbara iron ore industry, putting behind it the strain caused by its 2000 takeover of North Ltd.

The Japanese had supported a counterbid for North by Anglo American, fearing that if Rio added North's 53 per cent stake in the Robe River joint venture to its Hamersley Iron operations it would pose a threat to annual iron ore negotiations.

Rio Tinto Iron Ore chief executive Chris Renwick said Friday the signing of the agreements, first announced in April, marked a milestone in the way the group mines, transports and exports iron ore.

"The agreements will not only benefit the operations, but also further strengthen the relationship with our Japanese partners in the Robe River joint venture," Mr Renwick said.

Under the agreements, a new organisation called Pilbara Iron would be formed to cover common usage of port, rail and power infrastructure and the provision of corporate and site services to Hamersley and Robe in WA's Pilbara region.

It also ...