Rio Tinto acquires majority control of Riversdale Mining

SYDNEY (Reuters) – Global miner Rio Tinto (RIO.AX: Quote, Profile, Research)(RIO.L: Quote, Profile, Research) has acquired majority control of Riversdale Mining (RIV.AX: Quote, Profile, Research) after more than 50 percent of the target’s shareholders accepted its $4 billion takeover offer.

Rio said in a statement it planned to accelerate development projects at Riversdale.

(Reporting by Michael Smith; Editing by Balazs Koranyi)

Rio Tinto acquires majority control of Riversdale Mining