Riversdale Mining Ltd
(ASX:RIV) says its 65:35 joint venture project with India’s Tata Steel has secured full rights to the proposed $1 billion Benga power plant project.
ELGAS previously held a 50 per cent option.
Riversdale says full control of the project would help with the introduction of strategic investors to develop the project.
Previously, the company announced its intention to sell a 95 per cent stake in the plant and instead focus on its core business of coal mines in Mozambique.
For the year ended 30 June 2010, Riversdale reported a net profit of $1.3 million.
