Company type | Public |
---|---|
ASX: RIV | |
Headquarters | Sydney , Australia |
Revenue | A$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]
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]
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]