On April 20, the Australian mining giant Rio Rinto announced that it has now obtained an interest in more than 72 percent of all the shares in Africa-focused Australian coal miner Riversdale Mining Limited (Riversdale).
According to the company's statement, Rio Tinto's subsidiary Rio Tinto Jersey Holdings has received acceptances to its takeover offer for Riversdale from CSN Europe in respect of CSN's entire 19.35 percent shareholding in Riversdale. Thus, Rio Tinto's interest in Riversdale has increased to 72 percent.
In addition, the offer period has been extended until April 29, 2011.
Riversdale owns large coal mines in Mozambique, including the Benga project and the neighboring Zambeze project which have high quality coking coal.