*DJ Tata Steel: No Decision On Riversdale Mining Yet
(MORE TO FOLLOW) Dow Jones Newswires February 23, 2011 09:01 ET (14:01 GMT) *DJ Tata Steel: Reserves Right To Make Decision On Riversdale During Offer Period
(MORE TO FOLLOW) Dow Jones Newswires February 23, 2011 09:02 ET (14:02 GMT) DJ Tata Steel: No Decision On Riversdale Mining Yet
MUMBAI (Dow Jones)--Tata Steel Ltd. (500470.BY), the world's seventh-largest steelmaker by capacity, Wednesday said it hasn't made a decision on its Riversdale Mining Ltd. (RIV.AU) stake yet. Tata Steel, part of the salt to software Tata Group, owns a 24% stake in Australia's Riversdale, which has 13 billion metric tons of coking and thermal coal reserves at its Benga and Zambeze projects in the southern African country of Mozambique.
Riversdale is also the target of an intense bidding war between Anglo-Australian mining giant Rio Tinto PLC (RIO, RIO.LN) and Brazilian steelmaker Cia. Siderurgica Nacional (SID, CSNA3.BR).
RIV Price at posting:
$15.20 Sentiment: Buy Disclosure: Held