Australia’s Riversdale Mines Major Coking Coal Reserve in Mozambique, an Industrial Info News Alert
2008-07-15 06:00:00
JOHANNESBURG, SOUTH AFRICA–(EMWNews – July 15, 2008) – Researched by Industrial Info
Resources (Sugar Land, Texas) — Riversdale Mining Limited (ASX:RIV)
(Sydney, Australia) is planning to build a 500-megawatt coal-fired power
station in Mozambique. The $2 billion power project will obtain its coal
feed from a major coal-mining development being planned in the region by
Riversdale. India’s Tata Steel (BOM:500470) (Bombay) is a 35% partner in
the project, which will be funded by foreign banks and international
financial institutions. Riversdale has coal tenements along both banks of
the Zambezi River that stretch as far as the south bank of the hydropower
lake Cahora Bassa. With the likelihood of more coal deposits in the 280,000
hectares that are unexplored, the tenements could hold more coal than the
Maotize area licensed to Brazil’s Vale (NYSE:RIO) (Rio de Janeiro, Brazil),
which has an estimated reserve of 2.4 billion tons of coal.
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