Riversdale Mining

Last updated
Riversdale Mining Ltd
Public
Traded as ASX:  RIV
Headquarters
Sydney
,
Australia
RevenueA$97.5M [1]

Riversdale Mining is an Australian mining company, listed on the S&P/ASX 200. It specialises in coal mines in Africa. [2] [3] [4]

Mining The extraction of valuable minerals or other geological materials from the earth

Mining is the extraction of valuable minerals or other geological materials from the earth, usually from an ore body, lode, vein, seam, reef or placer deposit. These deposits form a mineralized package that is of economic interest to the miner.

The S&P/ASX 200 index is a market-capitalization weighted and float-adjusted stock market index of stocks listed on the Australian Securities Exchange. The index is maintained by Standard & Poor's and is considered the benchmark for Australian equity performance. It is based on the 200 largest ASX listed stocks, which together account for about 82% of Australia’s sharemarket capitalisation.

Africa The second largest and second most-populous continent, mostly in the Northern and Eastern Hemispheres

Africa is the world's second largest and second most-populous continent, being behind Asia in both categories. At about 30.3 million km2 including adjacent islands, it covers 6% of Earth's total surface area and 20% of its land area. With 1.2 billion people as of 2016, it accounts for about 16% of the world's human population. The continent is surrounded by the Mediterranean Sea to the north, the Isthmus of Suez and the Red Sea to the northeast, the Indian Ocean to the southeast and the Atlantic Ocean to the west. The continent includes Madagascar and various archipelagos. It contains 54 fully recognised sovereign states (countries), nine territories and two de facto independent states with limited or no recognition. The majority of the continent and its countries are in the Northern Hemisphere, with a substantial portion and number of countries in the Southern Hemisphere.

Contents

Tata Steel owned a stake of approximately 24% in Riversdale; [5] Passport Capital and Brazilian steelmaker CSN also have a stake. [6] In April 2010, Rio Tinto Group gained a majority stake. [7]

Operations

In June 2010, Riversdale Mining signed an agreement with Wuhan Iron and Steel to jointly develop Riversdale's Zambeze coal reserves in Mozambique, one of the world's largest undeveloped coking coal areas; Wuhan will also buy coal from Riversdale's nearby Benga mines. [6] The Benga mines are expected to produce 20 million tonnes per year. [8] These mines are near Moatize in Mozambique. [9]

Mozambique country in Africa

Mozambique, officially the Republic of Mozambique, is a country located in Southeast Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west, and Eswatini (Swaziland) and South Africa to the southwest. The sovereign state is separated from the Comoros, Mayotte and Madagascar by the Mozambique Channel to the east. The capital of Mozambique is Maputo while Matola is the largest city, being a suburb of Maputo.

Moatize Place in Tete Province, Mozambique

Moatize is the principal town and administrative center of Moatize District in western Mozambique's Tete Province. It is located on the eastern side of the Zambezi River at the confluence of the Moatize and Revuboe Rivers. After Tete, it is the second largest urban area, by population, in western Mozambique.

Riversdale also has the Zululand anthracite mine in northern KwaZulu Natal in South Africa. [10]

Anthracite A hard, compact variety of coal that has a submetallic luster

Anthracite, often referred to as hard coal, is a hard, compact variety of coal that has a submetallic luster. It has the highest carbon content, the fewest impurities, and the highest energy density of all types of coal and is the highest ranking of coals.

South Africa Republic in the southernmost part of Africa

South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by 2,798 kilometres (1,739 mi) of coastline of Southern Africa stretching along the South Atlantic and Indian Oceans; to the north by the neighbouring countries of Namibia, Botswana, and Zimbabwe; and to the east and northeast by Mozambique and Eswatini (Swaziland); and it surrounds the enclaved country of Lesotho. South Africa is the largest country in Southern Africa and the 25th-largest country in the world by land area and, with over 57 million people, is the world's 24th-most populous nation. It is the southernmost country on the mainland of the Old World or the Eastern Hemisphere. About 80 percent of South Africans are of Bantu ancestry, divided among a variety of ethnic groups speaking different African languages, nine of which have official status. The remaining population consists of Africa's largest communities of European, Asian (Indian), and multiracial (Coloured) ancestry.

Takeover

Riversdale has been in takeover talks with Rio Tinto, valuing it at A$3.5 billion; [11] [12] [13] the government of India has also considered bidding. [14]

Government of India Legislative, executive and judiciary powers of India

The Government of India, often abbreviated as GoI, is the union government created by the constitution of India as the legislative, executive and judicial authority of the union of 29 states and seven union territories of a constitutionally democratic republic. It is located in New Delhi, the capital of India.

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BHP, formerly known as BHP Billiton, is the trading entity of BHP Group Limited and BHP Group plc, an Anglo-Australian multinational mining, metals and petroleum dual-listed public company headquartered in Melbourne, Victoria, Australia.

Steel Authority of India company

Steel Authority of India Limited (SAIL) is an Indian state-owned steel making company based in New Delhi, India. It is a public sector undertaking, owned and operated by the Government of India with an annual turnover of INR 44,452 Crore for fiscal year 2016-17. Incorporated on 24 January 1973, SAIL has 72,004 employees. With an annual production of 14.38 million metric tons, SAIL is the 20th largest steel producer in the world and the 3rd largest in India. The Hot Metal production capacity of the company will further increase and is expected to reach a level of 50 million tonnes per annum by 2025. Sri Anil Kumar Chaudhary is the current Chairman of SAIL.

Tete Province Province in Mozambique

Tete is a province of Mozambique. It has an area of 98,417 km² and a population of 2,764,169.

Rio Tinto (corporation) Anglo-Australian multinational mining company

Rio Tinto is an Anglo-Australian multinational and one of the world's largest metals and mining corporations. The company was founded in 1873, when a multinational consortium of investors purchased a mine complex on the Rio Tinto, in Huelva, Spain, from the Spanish government. Since then, the company has grown through a long series of mergers and acquisitions to place itself among the world leaders in the production of many commodities, including aluminium, iron ore, copper, uranium, and diamonds. Although primarily focused on extraction of minerals, Rio Tinto also has significant operations in refining, particularly for refining bauxite and iron ore. The company has operations on six continents, but is mainly concentrated in Australia and Canada, and owns its mining operations through a complex web of wholly and partly owned subsidiaries. Rio Tinto has joint head offices in London and Melbourne.

Anglo American plc is a multinational mining company based in Johannesburg, South Africa and London, United Kingdom. It is the world's largest producer of platinum, with around 40% of world output, as well as being a major producer of diamonds, copper, nickel, iron ore and metallurgical and thermal coal. The company has operations in Africa, Asia, Australasia, Europe, North America and South America.

Vale (company) multinational diversified metals and mining corporation

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Aluminum Corporation of China Limited, is a Chinese company listed in Hong Kong SAR and in New York. Multinational aluminium company headquartered in Beijing, People's Republic of China. It is the world's second-largest alumina producer and third-largest primary aluminium producer. Chinalco is principally engaged in the extraction of aluminium oxide, electrolyzation of virgin aluminium and the processing and production of aluminium as well as traded trading and engineering and technical services.

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Severstal is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company in Russia. The company is majority-owned and controlled by billionaire Alexey Mordashov.

Rio Tinto Coal Australia (RTCA) is an Australian coal mining organisation, and is part of the worldwide Rio Tinto Group. In Queensland, RTCA operates the Blair Athol, Hail Creek, Kestrel and Clermont mines. In New South Wales, RTCA manages Coal & Allied's operations at Mount Thorley Warkworth, Hunter Valley Operations and Bengalla.

Oyu Tolgoi mine mine in Mongolia

The Oyu Tolgoi mine is a combined open pit and underground mining project in Khanbogd sum within the south Gobi Desert, approximately 235 kilometres (146 mi) east of the Ömnögovi Province capital Dalanzadgad. The site was discovered in 2001 and is being developed as a joint venture between Turquoise Hill Resources with 66% ownership and the Government of Mongolia with 34%. The mine began construction as of 2010 and shipped its first batch of copper on 9 July 2013.

The mineral industry of Mozambique plays a significant role in the world’s production of aluminium, beryllium, and tantalum. In 2006, Mozambique's share of the world's tantalum mine output amounted to 6%; beryllium, 5%; and aluminium, 2%. Other domestically significant mineral processing operations included cement and natural gas.

Rio Tinto Energy America (RTEA) was a wholly owned American subsidiary of the England and Australia-based mining giant, the Rio Tinto Group, headquartered in Gillette, Wyoming, United States. The company, previously known as Kennecott Energy after another of Rio Tinto's American subsidiaries, was formed in 1993 when Rio Tinto purchased NERCO and placed that company's Spring Creek coal mine and Antelope coal mine under the RTEA umbrella. Subsequent acquisitions included the Cordero Mining Company, the Colowyo Coal Company, and the Jacobs Ranch coal mine. RTEA operated four mines in Wyoming and Montana, supplying fuel for the generation of approximately 6% of the United States' electricity consumption. The RTEA mines were spun off to Cloud Peak Energy in 2010.

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Hail Creek coal mine mine in Australia

The Hail Creek Coal Mine is a coal mine located within the Bowen Basin at Hail Creek in Central Queensland, Australia. The mine has coal reserves amounting to 970 million tonnes of coking coal, one of the largest coal reserves in Asia and the world. The mine has an annual production capacity of 5.5 million tonnes of coal. In 2011, seven million tonnes of coal were produced. The mine is operated by Rio Tinto Coal Australia and owned by Queensland Coal, Nippon Steel Australia, Marubeni Coal and Sumisho Coal Development.

The Benga Coal Mine is a coal mine located in Tete, Changara District, Tete Province, Mozambique. The mine has coal reserves amounting to 1.9 billion tonnes of coking coal, one of the largest coal reserves in Africa and the world. The mine is operating and is currently producing prime hard coking coal and thermal coal.

Mining industry of Guinea

The mining industry of Guinea was developed during colonial rule. The minerals extracted consisted of iron, gold, diamond, and bauxite. Guinea ranks first in the world in bauxite reserves and 6th in the extraction of high-grade bauxite, the aluminium ore. The mining industry and exports of mining products accounted for 17% of Guinea’s gross domestic product (GDP) in 2010. Mining accounts for over 50% of its exports. The country accounts for 94% of Africa’s mining production of bauxite. The large mineral reserve, which has mostly remained untapped, is of immense interest for international firms.

References

  1. ↑ "RIVERSDALE MINING LTD (RIV:AU): Financial Statements - BusinessWeek". 2010-12-12. Retrieved 2010-12-12.
  2. ↑ "Riversdale Says Rio Tinto Made $3.46 Billion Initial Offer for Coalminer - Bloomberg". 2010-12-12. Retrieved 2010-12-12.
  3. ↑ "Riversdale Mining - Mining News - MiningWeekly.com". 2010-12-12. Retrieved 2010-12-12.
  4. ↑ "Mining Journal - Riversdale Mining". 2010-12-12. Archived from the original on 2011-03-18. Retrieved 2010-12-12.
  5. ↑ "Tata Steel says Riversdale Mining is strategic investment - NDTV Profit". 2010-12-12. Retrieved 2010-12-12.
  6. 1 2 "Steel Guru : Who will win Australian Riversdale Mining - 180220 - 2010-12-11". 2010-12-12. Retrieved 2010-12-12.
  7. ↑ "Rio Tinto claims control of Riversdale". 2011-04-11. Archived from the original on 2012-06-11. Retrieved 2011-04-11.
  8. ↑ "Mineweb.com - The world's premier mining and mining investment website Riversdale Mining gets go ahead for Mozambique coal project". Mineweb. 2010-12-12. Retrieved 2010-12-12.
  9. ↑ "Steel Guru : Riversdale Mining updates on Benga Coal Project - 172967 - 2010-11-01". 2010-12-12. Retrieved 2010-12-12.
  10. ↑ "RIVERSDALE MINING LTD (RIV:AU): Stock Quote & Company Profile - BusinessWeek". 2010-12-12. Retrieved 2010-12-12.
  11. ↑ "Mining Journal - Record close for Riversdale as Rio Tinto interest revealed". 2010-12-12. Retrieved 2010-12-12.
  12. ↑ "Rio Tinto bids for Riversdale Mining - CFO World". 2010-12-12. Archived from the original on 2011-03-12. Retrieved 2010-12-12.
  13. ↑ "Rio eyes Africa with Riversdale approach". 2010-12-12. Retrieved 2010-12-12.
  14. ↑ "Mining Journal - India plans Riversdale bid to challenge Rio Tinto" . Retrieved 2010-12-26.
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