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Update: Market Chatter: Rio Tinto in Talks With Vitol Over Freight, Logistics Joint Venture

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(Update with Vitol's response to a request for comment in the last paragraph.)

Rio Tinto (RIO) is in talks with Vitol Group about a potential joint venture that could help cut freight and logistics costs, Bloomberg reported Thursday, citing people familiar with the matter.

It is not clear what the size and range of a potential joint venture would be, but one area being discussed is how Vitol could help Rio with risk management tools for freight, including derivative trading within its freight and logistics operations, the people reportedly said.

Vitol declined to comment, while Rio didn't immediately reply to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $95.34, Change: $+1.31, Percent Change: +1.39%

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