Name and location
Mozambique coal project.

Project description
The project will involve the development of a hard coking and thermal coal project at key coal exploration tenements held by Riversdale Mining, in the Moatize region.

The joint venture (JV) comprises two licences, namely the Benga and Tete licences and covers an area of about 25 000 ha.

The coking coal derived from the project will be supplied to Tata Steel Group's facilities in Europe, Asia and elsewhere.

Value
Riversdale Mining has undertaken a A$235-million capital raising to fast-track the development of the project in Mozambique.

A$215-million was received in November 2007 and the remaining A$20-million was received in January 2008, after shareholder approval was obtained.

Duration
Not stated.

Breakdown of main contracts
Not stated.

Client
Riversdale Mining and Tata Steel have signed an agreement to establish a special-purpose JV vehicle to develop the project.

Tata Steel has paid A$100-million to acquire a 35% project interest in two exploration tenements (the Benga 881L and the Tete 1319L tenements), as well as a 40% share of the offtake for coking coal.

Tata Steel also has the option to participate above this level of tonnage, and may participate with Riversdale Mining in future opportunities on its surrounding tenements.

Latest developments
None stated.

Participants
None stated.

Construction materials
Not stated.

On budget and on time?
Not stated.

Contact details for project information
Riversdale Mining,
tel +61 2 8299 7900,
fax +61 2 8299 7999.