Bhubaneswar, Oct. 17: Anglo-Australian mining major Rio Tinto, the world’s second-largest producer of iron ore after Brazil’s Vale, has expressed keen interest in reviving its joint venture project with the Odisha Mining Corporation.

In a letter to Odisha chief secretary Bijoy Patnaik, Australian High Commissioner to India Peter N. Varghese said that Rio Tinto was committed to developing the iron sector in Odisha through its joint venture with the Odisha Mining Corporation (OMC).

Varghese has sought a meeting with the Odisha chief secretary to discuss the issue.

The high commissioner, who is on a visit to Odisha in connection with Oz Fest indigenous cultural concert at the Rajarani temple here on October 20, will be accompanied by Sam Walsh, executive director of Rio Tinto.

The Australian High Commissioner has also sought an appointment with Odisha chief minister Naveen Patnaik.

Rio Tinto had entered into a joint venture with the OMC on February 24, 1995, to develop Gandhamardhan and Malangtoli iron ore deposits in Sundergarh and Keonjhar districts in Odisha. It had decided to invest Rs 11,000 crore in this project.

According to the agreement, Rio Tinto was to hold 51 per cent equity in the company while the OMC would have owned the remaining 49 per cent.

Five years later, the National Mineral Development Corporation (NMDC), which was the original leaseholder of the Mangaltoli mines, demanded a stake in the company and a tri-partite agreement was signed giving it five per cent share.

“Now they want to settle the issue in an amicable manner. However, the OMC is not interested in a joint venture with Rio Tinto anymore,” said an OMC official.