I Image World - Images Speak Everything » Business and Money http://blog.iimageworld.com Download Free Bollywood, Hollywood Movie and Actresses, Religious Desktop Wallpapers and Images Fri, 02 Oct 2009 15:02:50 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Another Golden Feather in Indian Business http://blog.iimageworld.com/india/another-golden-feather-in-indian-business/ http://blog.iimageworld.com/india/another-golden-feather-in-indian-business/#comments Sat, 04 Aug 2007 12:25:23 +0000 admin http://blog.iimageworld.com/2007/08/04/article-blog-of-another-golden-feather-in-indian-business/ Tata Steel Friday announced the acquisition of a 35 percent stake in Australian firm Riversdale Mining Ltd.`s coal project in Mozambique for Australian $100 million (about US $85 mn). Riversdale Mining Limited, incorporated in 1986, is listed on the Australian Stock Exchange.

Riversdale Ltd. – Australia

Riversdale Ltd.

With this, Tata Steel becomes one of the strategic investors in the project that is fully owned by Riversdale through its subsidiary.

`This partnership gives Tata Steel an opportunity to jointly explore part of a large coal basin which could prove to be a potential source to meet part of the raw material requirement and enhance the long term competitiveness of the global operations,` said B. Muthuraman, managing director, Tata Steel.

Michael O`Keeffe, CEO and chairman of Riversdale, added: `They (Tata Steel) are an ideal strategic partner for Riversdale, and offer our shareholders the most efficient way to realise value from the development of Riversdale`s world class projects.`

Here You should not forget that Tata steel is the world`s sixth largest steel-maker, which recently completed acquisition of the Anglo-Dutch steelmaker Corus Group for about $12 billion.

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