July 29, 2010: Setting aside its long standing dispute with Rio Tinto over formation of a billion dollar joint venture to mine iron ore in the state, Orissa government today said it was considering a fresh agreement with the global mining major. "Orissa government will take a final decision on making a fresh agreement with Rio Tinto keeping in view the state's interest," Steel and Mines Minister Raghunath Mohanty informed the assembly while replying a question. Stating that the state owned Orissa Mining Corporation (OMC) had signed an agreement with Rio Tinto way back in 1995 but it could not be implemented, he said a draft for the fresh agreement was being examined by Law and Finance departments. "The company is holding discussions with the state government officials to resolve the dispute," a Rio Tinto India official said adding they are hopeful of starting afresh after a gap of one-and-a-half decade. Source: The Economic Times