Tata Steel to Stick with Riversdale Mining
Riversdale Mining is being taken over by Rio Tinto but Tata Steel will continue to hold a stake in the coal mining company. B. Muthuraman the Tata Steel Vice Chairman said on Monday that the company would not divest its stake in the Australian miner currently being acquired by Rio.
He was speaking at a CII event in New Delhi when he said that Tata Steel was more keen on getting coking coal to feed its steel plants rather than making quick money by selling its stake in the Australian coal mining company Riversdale mining.
Tata Steel has a stake of 27.14% in Riversdale Mining and is the second largest shareholder in the company. Its subsidiary TS Global Minerals Holdings is the medium through which it hopes to remain invested in the company.
Rio Tinto earlier this month bought out the Brazilian steel company CSN from its 19.9% stake in Riversdale Mining. Now Rio Tinto has a 72% stake in Riversdale Mining. It has announced that it intended to extend the takeover offer for Riversdale Mining to April 29, 2011.
Tata Steel yesterday conducted the ground breaking ceremony for a Continuous Annealing and Processing line project worth six lakh tonne per annum. The CAPL project is being undertaken by Tata Steel in agreement with Nippon Steel to set up the first CAPL for production of automotive coal rolled steels at Jamshedpur.
Written by
Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.
Please use one of the following formats to cite this article in your essay, paper or report:
APA
Scanlon, Joel. (2019, March 19). Tata Steel to Stick with Riversdale Mining. AZoMining. Retrieved on February 23, 2026 from https://www.azomining.com/News.aspx?newsID=4000.
MLA
Scanlon, Joel. "Tata Steel to Stick with Riversdale Mining". AZoMining. 23 February 2026. <https://www.azomining.com/News.aspx?newsID=4000>.
Chicago
Scanlon, Joel. "Tata Steel to Stick with Riversdale Mining". AZoMining. https://www.azomining.com/News.aspx?newsID=4000. (accessed February 23, 2026).
Harvard
Scanlon, Joel. 2019. Tata Steel to Stick with Riversdale Mining. AZoMining, viewed 23 February 2026, https://www.azomining.com/News.aspx?newsID=4000.
We're committed to providing free access to quality science. By registering and providing insight into
your preferences you're joining a community of over 1m science interested individuals and help us to
provide you with insightful content whilst keeping our service free.
or
Terms
While we only use edited and approved content for Azthena
answers, it may on occasions provide incorrect responses.
Please confirm any data provided with the related suppliers or
authors. We do not provide medical advice, if you search for
medical information you must always consult a medical
professional before acting on any information provided.
Your questions, but not your email details will be shared with
OpenAI and retained for 30 days in accordance with their
privacy principles.
Please do not ask questions that use sensitive or confidential
information.
Read the full Terms & Conditions.