PERTH (miningweekly.com) − Rio Tinto appointed three new directors to the board of Riversdale Mining, which it is buying in a A$3,9-billion takeover.

Rio Tinto CEO for energy, Douglas Ritchie, as well as its MD for Australia, David Peever, and its chief development officer for the coal division, Matthew Coulter, have joined the Riversdale board.

Riversdale also said chairperson Michael O’Keeffe and nonexecutive director Andrew Love would resign, following either Rio Tinto acquiring a 50% shareholding in the company, or the end of the offer period on April 20.

O’Keeffe has been chairperson since 2004.

Rio Tinto’s offer for Riversdale was extended on Wednesday, after the miner acquired a 49,49% stake in Riversdale.

The offer was declared unconditional, and with Rio achieving its minimum 47% acceptance, it hiked the offer price from A$16 a share to A$16,50 a share.

Riversdale on Thursday again recommended shareholders accept the Rio offer, in the absence of a superior proposal.
 

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