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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Riversdale Fpo | ASX:RIV | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From May 2019 to May 2024
Rio Tinto PLC (RIO) has extended its majority control of Riversdale Mining Ltd. (RIV.AU), increasing its interest in the Africa-focused coal producer to 52.6% by early Monday.
The Anglo-Australian mining company has offered A$16.50 a share for Sydney-based Riversdale, valuing it at almost US$4 billion.
Rio Tinto said Friday it had assumed control of Riversdale as its shareholding in the company had passed the 50% level and was expected to rise further before the offer closes April 20. Riversdale has added three Rio nominees to its board and said executive chairman Michael O'Keeffe and a nonexecutive director would step down.
Riversdale operates a colliery in South Africa and is developing two coking coal operations in neighboring Mozambique. Coking coal is a key raw ingredient in making steel.
Steel producers Tata Steel Ltd. (500470.BY) of India and Cia. Siderurgica Nacional (SID) of Brazil together own 47% of Riversdale.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com
1 Year Riversdale Mining Chart |
1 Month Riversdale Mining Chart |
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