Rio Tinto Plc (RIO) said Tuesday it has again raised its stake in Riversdale Mining Ltd. (RIV.AU) as it pushes ahead with its 3.9 billion Australian dollar ($3.97 billion) bid for the Africa-focused coal company.

Rio Tinto has twice extended its offer for Riversdale by 14 days, most recently when it last week brought the deadline to March 18. The offer is subject to Rio Tinto acquiring more than half of Riversdale.

The Anglo-Australian mining company said its interest in Riversdale plus acceptances of its offer represent 16.99% of Riversdale's issued shares. In mid-February it said its interest in Riversdale had increased to 15.97% from 14.97% in mid-January.

Rio Tinto in December made a recommended cash offer for Riversdale at A$16 a share and said it had entered pre-bid agreements for 14.9% of the Sydney-based company's shares.

Riversdale operates a colliery in South Africa and is developing coal projects in neighboring Mozambique.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com
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