The companies established a joint prospecting and project-development venture in April. RioNor Geologorazvedka is a joint-stock company registered in Russia in which NorNickel has a 51% stake and Rio Tinto holds 49%.
"We have chosen a number of deposits that our geologists are studying in collaboration with Rio Tinto experts," said Denis Morozov, a deputy general director of NorNickel. "We hope to determine which deposits will be of priority importance for our joint work in January-February."
He said that prospecting work on the deposits was not being done and refused to specify the shortlist.
NorNickel is the world's largest producer of nickel and palladium, and a leading producer of platinum, copper and cobalt. Rio Tinto is one of the world's leading minerals companies, with a market capitalization of about $78 billion.
NorNickel said in April that the joint company's initial efforts would be focused on geological surveying in Southern Siberia and the Far East Federal District.
Morozov said the Russian company would also decide in early 2007 on deposits to be prospected and developed in Russia jointly with BHP Billiton, an Anglo-Australian group, the world's largest mining company with operations in 25 countries and a market capitalization of around $130 billion.
Under the agreement the companies signed in June, they will establish joint exploration and development companies, in which the Russian company will hold 50% plus one share, and BHB Billiton 50% minus one share.
