Tata Steel and Australia based Riversdale are likely to commence production
from the Benga coal project in Mozambique in the next five years. The Benga
project is likely to yield over 20 million tpa of the dry fuel.
Tata Steel has a 35 per cent stake in the JV while Riversdale has a 65 per
cent stake.
Riversdale has completed the feasibility study for the project which
contemplates three stages of development of the coking-coal rich reserves. The
company is adequately funded for its share of the Benga Stage I development,
which stands at $ 169 million (about Rs 825 crore).
Also See:
Mozambique
awards mining contract to Tata Steel JV (12-May-09)