Riversdale Mining is an Australian
mining
Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic ...
company, listed on the
S&P/ASX 200
The S&P/ASX 200 index is a market-capitalization weighted and float-adjusted stock market index of stocks listed on the Australian Securities Exchange. The index is maintained by Standard & Poor's and is considered the benchmark for Australi ...
. It specialises in coal mines in
Africa
Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area ...
.
Tata Steel owned a stake of approximately 24% in Riversdale;
Passport Capital and Brazilian steelmaker CSN also have a stake.
In April 2010,
Rio Tinto Group gained a majority stake.
Operations
In June 2010, Riversdale Mining signed an agreement with
Wuhan Iron and Steel to jointly develop Riversdale's
Zambeze coal reserves in
Mozambique
Mozambique (), officially the Republic of Mozambique ( pt, Moçambique or , ; ny, Mozambiki; sw, Msumbiji; ts, Muzambhiki), is a country located in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi ...
, one of the world's largest undeveloped coking coal areas; Wuhan will also buy coal from Riversdale's nearby
Benga
Benga may refer to:
Ethnonym
* Benga people, an indigenous ethnic group of Equatorial Guinea
* Benga language, spoke by the Benga people
* Benga music, a genre of music originating in Kenya
Places Romania
* ''Benga'', the old name of Mo ...
mines.
The Benga mines are expected to produce 20 million tonnes per year. These mines are near
Moatize
Moatize is the principal town and administrative center of Moatize District in western Mozambique's Tete Province. It is located on the eastern side of the Zambezi River at the confluence of the Moatize and Revuboe Rivers. After Tete, it is the ...
in
Mozambique
Mozambique (), officially the Republic of Mozambique ( pt, Moçambique or , ; ny, Mozambiki; sw, Msumbiji; ts, Muzambhiki), is a country located in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi ...
.
Riversdale also has the Zululand
anthracite mine in northern
KwaZulu Natal
KwaZulu-Natal (, also referred to as KZN and known as "the garden province") is a province of South Africa that was created in 1994 when the Zulu bantustan of KwaZulu ("Place of the Zulu" in Zulu) and Natal Province were merged. It is locate ...
in
South Africa
South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. It is bounded to the south by of coastline that stretch along the Atlantic Ocean, South Atlantic and Indian Oceans; to the ...
.
Takeover
Riversdale has been in takeover talks with
Rio Tinto Rio Tinto, meaning "red river", may refer to:
Businesses
* Rio Tinto (corporation), an Anglo-Australian multinational mining and resources corporation
** Rio Tinto Alcan, based in Canada
** Rio Tinto Borax in America
*** Rio Tinto Borax Mine, ...
, valuing it at A$3.5 billion; the
government of India
The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...
has also considered bidding.
References
{{reflist, 2
Mining companies of Australia
Mining in Mozambique