Mining company Rio Tinto RIO has acquired majority control of Riversdale Mining RIV, Reuters is reporting on Friday.
The news comes after more than 50% of Riversdale's shareholders accepted Rio Tinto's $4 billion takeover offer.
Rio said in a statement it planned to accelerate development projects at Riversdale.
Rio Tinto Plc is an international business involved in each stage of metal and mineral production. Shares lost $0.55, to $72.42 on Thursday.
Riversdale Mining Limited is an Australia-based company. The Company is engaged in the exploration, mining and development of a number of resource projects in Southern Africa. Shares gained a penny on Thursday, to close at $16.52.
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