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Key coal exploration tenements (the Benga
and Tete licences) held by Riversdale in
Mozambique.
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Potential to extract 720 million tonnes by
open-cut methods from a major coal resource in
the Benga Licence.
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Tata Steel and Riversdale signed a joint
venture agreement on November 30, 2007. |
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Under the terms of agreement, Tata Steel
will pay AUD100 million (approximately 88.2
million USD) to acquire 35% of Riversdale's
Benga and Tete licences. |
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The JV comprises two licences (the Benga and
Tete licenses) and covers an area of 24,960
hectares (approximately 96.7 square miles). |
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The coking coal derived from this project
will be supplied to the Tata Steel Group's
facilities in Europe, Asia and elsewhere.
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