Tata Steel: To Remain As Stakeholder In Riversdale Mining
21 Februar 2011 - 8:43AM
Dow Jones News
Tata Steel Ltd. (500470.BY) said Monday it will remain as a
stakeholder in Australia's Riversdale Mining Ltd. (RIV.AU) as the
Indian company is keen to secure coking coal supplies from
Riversdale's mines in Mozambique for its global steel
operations.
"We are sustainable shareholders there," Tata Steel Managing
Director H.M. Nerurkar told reporters on the sidelines of a mining
conference. "We would like to remain there" as Riversdale
shareholders, he added.
Tata Steel has a 24% stake in Riversdale, which has 13 billion
metric tons of coking and thermal coal reserves at its Benga and
Zambeze projects in the southern African country of Mozambique.
Anglo-Australian Rio Tinto (RIO.LN) is looking to take over
Riversdale and has earlier this month extended its offer to March
4.
-By Saurabh Chaturvedi, Dow Jones Newswires; 91-11-43563335;
saurabh.chaturvedi@dowjones.com
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