Rio Tinto has heightened its pursuit of Riversdale Mining, the Australian coking coal group, with a new A$3.9bn (US$3.9bn) bid that would entail at least an extra $1bn in group capital expenditure if successful.
The FTSE 100 miner has already committed to a $11bn capital expenditure programme in 2011, up from about $4bn this year, as it seeks to profit from buoyant commodity prices and bring new production on stream.
Rio Tinto said it would have to invest “over a billion dollars” in infrastructure to develop Riversdale’s coal project in Mozambique.
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