On March 23, Anglo-Australian iron ore giant
Rio Tinto Group announced that its shareholding in
Africa-focused Australian coal miner Riversdale
Mining Limited (Riversdale) has increased from 34.94 percent to 35.89 percent as of March 22, including acceptance facilities.
As SteelOrbis previously reported,
Rio Tinto has extended the offer period for its takeover bid for Riversdale by three trading days to April 6. The period for
Rio Tinto's previously announced $16.5 offer had been increased by three trading days to March 28, 2011, on condition
Rio Tinto obtained interest in more than 50 percent of Riversdale shares.