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Riversdale Mining

From Wikipedia, the free encyclopedia
Riversdale Mining Ltd
Company typePublic
ASXRIV
Headquarters
Sydney
,
Australia
RevenueA$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

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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 tonnes 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

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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

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  1. ^ "RIVERSDALE MINING LTD (RIV:AU): Financial Statements - BusinessWeek". 2010-12-12. Retrieved 2010-12-12.[dead link]
  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. Archived from the original on 2011-03-18. Retrieved 2010-12-12.
  5. ^ "Tata Steel says Riversdale Mining is strategic investment - NDTV Profit". 2010-12-12. Retrieved 2010-12-12.
  6. ^ a b "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. Archived from the original on 2012-06-11. 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.[dead link]
  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. Archived from the original on 2011-03-12. 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.