January 17, 2011

Rio Tinto Expands Presence in Africa

Mining giant Rio Tinto's $3.9BN deal to purchase Riversdale Mining Ltd will double the firm's African gross assets according to an article in the Wall Street Journal. The acquisition notably doubled the firm's managed production of hard coking (or metallurgical) coal, which will be sourced from Mozambique.

Rio Tinto has in the past been careful to note that over 80% of its investments are made in Organization for Economic Cooperation and Development (OECD) countries, thus the move is seen as opening for risk in exchange for the significant possibility of the operation.

No comments:

Post a Comment