NEW DELHI -- Tata Steel Ltd. said Monday it will remain as a stakeholder in Australia's Riversdale Mining Ltd. as the Indian company is keen to secure coking coal supplies from Riversdale's mines in Mozambique for its global steel operations.
"We are sustainable shareholders there," Tata Steel Managing Director H.M. Nerurkar told reporters on the sidelines of a mining conference. "We would like to remain there" as Riversdale shareholders, he added.
Tata Steel has a 24% stake in 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.
Anglo-Australian Rio Tinto is looking to take over Riversdale and has earlier this month extended its offer to March 4.
tata steel to remain
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)