Brazilian integrated steelmaker Companhia Siderurgica Nacional (SID), or CSN, confirmed Wednesday that it has raised its stake in Mozambique-focused coking coal developer Riversdale Mining Ltd. (RIV.AU).

In a filing with Brazilian stock regulators, CSN said that it purchased 4.78 million new shares for A$76.2 million. The share purchased raised CSN's stake in Riversdale to 17.58%. CSN had earlier made a similar statement to Australian regulators.

CSN officials were not immediately available to comment on the purchase.

CSN has been actively securing raw materials for its steelmaking operations, calling the moves "strategic" in nature. The higher stake in Riversdale, however, could complicate Rio Tinto PLC's (RIO) $3.9 billion offer for the company.

Rio Tinto has offered A$16 cash per share for Riversdale, which has a 14 billion-metric-ton coal resource in north-western Mozambique.

The southeast African country is expected to be one of the world's biggest growth regions over the next decade for hard coking coal, a scarce variety of the mineral essential for steelmaking blast furnaces.

-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085; Jeff.Fick@dowjones.com
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