India sets six-month import cap on key steelmaking ingredient met coke
India will impose restrictions on the import of low-ash metallurgical coke.
Australian mining giant Rio Tinto PLC faces a crucial week in its quest to take over Africa-focused coal producer Riversdale Mining Ltd., after a slow take-up of acceptances since the offer was first made in December, according to a report in The Wall Street Journal:
The bid was recently sweetened to almost four billion Australian dollars (US$3.99 billion) and the deadline extended a third time after few additional Riversdale shareholders committed themselves to selling to Rio Tinto.
Rio Tinto said Friday it had now secured shares and commitments over 33.04% of the voting rights in the Australian coal company, still well short of the more than 50% threshold it needs by the March 23 deadline it has set for its revised offer.
