Anglo-Australian mining company Rio Tinto Jersey Holdings, a wholly-owned subsidiary of the Rio Tinto Group, has extended its takeover offer for Riversdale Mining Limited (Riversdale) by two weeks.
The company, which owns 73.39% stake in Riversdale, has extended the deadline for acceptances for its $4bn offer.
Brazil’s CSN reversed its previous objections and accepted the offer last month, however other major stakeholder having 26% stake in Riversdale, have rejected the takeover bid.
Riversdale is working on major projects in Mozambique and the Zululand Anthracite operation in South Africa, reports AP.