Tata Steel Global Minerals Holdings, a subsidiary of Tata Steel, had raised
its holding in Riversdale Mining Ltd (RML), Australia, to 19.38 per cent through
market purchases.
Tata Steel subsidiary already holds about 15 per cent stake in RML.
Riversdale Mining is a JV partner of Tata Steel for a coal project in
Mozambique, where the production is slated to commence in 2011.
RML has acquired coal exploration tenements at the Tete-Moatize area in
Mozambique, whose combined size is now in excess of 250,000 ha. In Tete
province, the Benga coal project is being developed as a JV between RML (65 per
cent) and Tata Steel Global Minerals (35 per cent).
Also See:
Tata Steel JVs
Mozambique block to start production by 2014 (15-Jul-09)