PTI reported that TATA Steel said that it will remain invested in Australian mining firm Riversdale, which was acquired by global mining giant Rio Tinto early this month.

Without elaborating, Mr B Muthuraman VC of TATA Steel merely replied in the affirmative when asked whether the Indian steel major will continue to hold a stake in Riversdale.

H said “Yes” in reply to the query on the issue.

Last week, Rio had said that it has acquired a 72% stake in the Australian mining firm and purchased the entire stake 19.9% of Brazilian steel maker CSN.

TATA Steel, with a stake of 27.14% in Riversdale, is the second largest shareholder in the company currently.

(Sourced from PTI)