News: Riversdale secures rights to Benga project

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Riversdale Mining Ltd (ASX:RIV) says its 65:35 joint venture project with India's Tata Steel has secured full rights to the proposed $1 billion Benga power plant project.

ELGAS previously held a 50 per cent option.

Riversdale says full control of the project would help with the introduction of strategic investors to develop the project.

Previously, the company announced its intention to sell a 95 per cent stake in the plant and instead focus on its core business of coal mines in Mozambique.

For the year ended 30 June 2010, Riversdale reported a net profit of $1.3 million.