Tata Steel Global ups stake in Riverdale to 19%

Tata Steel Global Mineral Holdings, a unit of Tata Steel, today said it has increased its stake in Australia-based Riverdale Mining Ltd to 19.38 per cent through market purchases.

Riverdale Mining Limited (RML) is listed on Australian Stock Exchange. RML has acquired coal exploration tenements in Mozambique with the combined tenement size now in excess of 250,000 hectares in the Tete-Moatize area.

With the Tete province, the Bengal Coal project is being developed as a joint venture betweeb Riversdale Mining Limited and Tata Steel Global Minerals.