PERTH (miningweekly.com) - Diversified miner Rio Tinto has taken its shareholding in ASX-listed Riversdale Mining to 30,59%.

The mining giant was pushing for a minimum acceptance of 50% before March 23, and had recently increased its offer from A$16 to A$16,50 for Riversdale shares.

Rio was facing some opposition to its takeover of Riversdale, with major shareholders Tata Steel and Brazil’s CSN having increased their stakes in the Africa-focused miner over the past month.

Tata has previously reported that it would not seek to divest of its interest in Riversdale, calling it a “strategic investment”.

 

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