Mining Co a and Mining Co B Have Agreed to Extract

Mining Co A and Mining Co B have agreed to extract the copper out of a copper mine together and for the year ended 30 June 2020 the joint operation extracted 10 million kilograms of copper out of the copper mine. The two mining companies do not share expenses. Mining Co A sold its share (5 million kilograms) of the copper extracted for $6.95 per kilogram and Mining Co A made a profit of $15 million. Is Mining Co B entitled to share in any of this profit?

A) No as the arrangement is a joint venture and so the parties do not share profits
B) No, as the arrangement is a partnership and so the parties do not share profits
C) Yes, as the arrangement is a joint venture and so the parties are entitled to share profits
D) Yes, as the arrangement is a partnership and so the parties are entitled to share profits