On April 4, Anglo-Australian iron ore giant Rio Tinto Group announced that its relevant interest in Africa-focused Australian coal miner Riversdale Mining Limited (Riversdale) has increased from 41.51 percent as of March 30 to 43.14 percent.
As SteelOrbis previously reported, on March 29, Rio Tinto declared its AU$3.9 billion takeover bid for Riversdale unconditional, but stated it would increased its AU$16 offer price to AU$16.50 per share if it obtained an interest in more than 47 percent of Riversdale shares by a new deadline on April 6, 2011.
Riversdale owns large coal mines in Mozambique, including the Benga project and the neighboring Zambeze project which have high quality coking coal.