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Australia’s Riversdale Mines Major Coking Coal Reserve in Mozambique, an Industrial Info News Alert


Industrial Info Resources

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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