RIO Tinto has withdrawn from the Mulofwe Uranium Joint Venture in Zambia, dumping its venture-partner Zambezi Resources.
Zambezi Resources claims the project had been advanced to the point of being ready to commence drilling.
Rio Tinto says its primary reason for ending the joint venture was to due to a “reduction in global budgets”.Zambezi says it intends to move ahead with drilling once it secures financing.
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