Tata Steel Global Minerals Holdings Pte Limited, an indirect wholly owned subsidiary of Tata Steel Limited, has today acquired additional shares in Riversdale Mining Limited (RML), Australia, through market purchases, taking its total holding up to 19.38%.
RML is a mining company listed on the Australian Stock Exchange (ASX). RML has acquired coal exploration tenements in Mozambique, whose combined size is now in excess of 250,000 hectares, in the Tete-Moatize area. In Tete province the Benga Coal Project is being developed as a joint venture between RML (65%) and Tata Steel Global Minerals Holdings Pte Limited (35%).
In April 2009, Riversdale issued an updated Resource and Reserve statement for the Benga Coal Project, which gave an estimated Coal Resource of 4.0 billion tonnes, including 1,033.9 million tonnes of Measured and Indicated Resources, of which 893.4 million tonnes are at a depth of less than 500 metres. In the same month the Project received approval from the Government of Mozambique for the Mining Contract, which establishes the terms governing the development and implementation of the Project.
RML also owns a 74% stake in Zululand Anthracite Colliery (ZAC), an underground operating anthracite mine located in the Zululand coalfield of northern KwaZulu-Natal province, South Africa.
About Tata Steel
Established in 1907, Tata Steel is Asia’s first and India’s largest integrated private sector steel producer. With the acquisition of Corus, the combined enterprise, Tata Steel Limited has a total crude steel production capacity of around 30 million tonnes and over 82,000 employees across four continents. Tata Steel has operations in 27 countries and is the second most globally diversified steel group. Tata Steel commits in its new group vision “We aspire to be the global benchmark for Value creation and Corporate Social Responsibility”.
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