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Anglo-Australian mining group Rio Tinto has agreed to buy out the Africa-focussed coal miner Riversdale in a deal worth three billion euros.
The move, by the world’s fourth biggest mining company, is likely to be challenged by rivals seeking to secure coking coal reserves in Mozambique.
Rio Tinto’s first big acquisition since 2007 is designed to meet soaring Asian demand for the key steel making ingredient.
More about: Business, Economy, MiningCopyright © 2012 euronews
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