Riversdale Mining

Riversdale Mining Ltd
Public
Traded as ASX: RIV
Headquarters Sydney, Australia
Revenue A$97.5M[1]

Riversdale Mining is an Australian mining company, listed on the S&P/ASX 200. It specialises in coal mines in Africa.[2][3][4]

Tata Steel owned a stake of approximately 24% in Riversdale;[5] Passport Capital and Brazilian steelmaker CSN also have a stake.[6] In April 2010, Rio Tinto Group gained a majority stake.[7]

Operations

In June 2010, Riversdale Mining signed an agreement with Wuhan Iron and Steel to jointly develop Riversdale's Zambeze coal reserves in Mozambique, one of the world's largest undeveloped coking coal areas; Wuhan will also buy coal from Riversdale's nearby Benga mines.[6] The Benga mines are expected to produce 20 million tonnnes per year.[8] These mines are near Moatize in Mozambique.[9]

Riversdale also has the Zululand anthracite mine in northern KwaZulu Natal in South Africa.[10]

Takeover

Riversdale has been in takeover talks with Rio Tinto, valuing it at A$3.5 billion;[11][12][13] the government of India has also considered bidding.[14]

References

  1. ↑ "RIVERSDALE MINING LTD (RIV:AU): Financial Statements - BusinessWeek". 2010-12-12. Retrieved 2010-12-12.
  2. ↑ "Riversdale Says Rio Tinto Made $3.46 Billion Initial Offer for Coalminer - Bloomberg". 2010-12-12. Retrieved 2010-12-12.
  3. ↑ "Riversdale Mining - Mining News - MiningWeekly.com". 2010-12-12. Retrieved 2010-12-12.
  4. ↑ "Mining Journal - Riversdale Mining". 2010-12-12. Retrieved 2010-12-12.
  5. ↑ "Tata Steel says Riversdale Mining is strategic investment - NDTV Profit". 2010-12-12. Retrieved 2010-12-12.
  6. ↑ 6.0 6.1 "Steel Guru : Who will win Australian Riversdale Mining - 180220 - 2010-12-11". 2010-12-12. Retrieved 2010-12-12.
  7. ↑ "Rio Tinto claims control of Riversdale". 2011-04-11. Retrieved 2011-04-11.
  8. ↑ "Mineweb.com - The world's premier mining and mining investment website Riversdale Mining gets go ahead for Mozambique coal project". Mineweb. 2010-12-12. Retrieved 2010-12-12.
  9. ↑ "Steel Guru : Riversdale Mining updates on Benga Coal Project - 172967 - 2010-11-01". 2010-12-12. Retrieved 2010-12-12.
  10. ↑ "RIVERSDALE MINING LTD (RIV:AU): Stock Quote & Company Profile - BusinessWeek". 2010-12-12. Retrieved 2010-12-12.
  11. ↑ "Mining Journal - Record close for Riversdale as Rio Tinto interest revealed". 2010-12-12. Retrieved 2010-12-12.
  12. ↑ "Rio Tinto bids for Riversdale Mining - CFO World". 2010-12-12. Retrieved 2010-12-12.
  13. ↑ "Rio eyes Africa with Riversdale approach". 2010-12-12. Retrieved 2010-12-12.
  14. ↑ "Mining Journal - India plans Riversdale bid to challenge Rio Tinto". Retrieved 2010-12-26.