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Tata Steel Looking at Riversdale Mining

Rio Tinto may have serious competition for Riversdale Mining coming from a majority shareholder. It was reported that Tata Steel is currently exploring a joint bid with the state owned NMDC for the company.

The rumour also said that they were waiting for Rio Tinto to put in a formal takeover bid before they made a move.

However the chairman of NMDC denied this. The Chairman Mr Rana Som said that there had been no such discussions held with Tata Steel as of now. Tata Steel owns 24% of Riversdale Mining.

There have been other sources which say that the company may be in talks with Anglo American plc or Eurasian Natural Resources Corporation as well. Riversdale Mining is not offering any comments on the possible offers it may have received or will receive as of now.

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