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Rio in Talks to Buy Riversdale Mining for $3.1 Billion, Telegraph Reports

Rio Tinto Plc is in talks to buy Riversdale Mining Ltd. for about A$15 a share, the London-based Daily Telegraph said, citing unidentified people familiar with the matter.

A deal to buy Australia-listed Riversdale, which has coal- mining projects in Africa, isn’t certain to be completed, the newspaper said.

Karen Halbert, a spokeswoman for Rio in Australia, said the company doesn’t comment on market speculation. Bill Kemmery, a spokesman for Riversdale at Sydney-based Fortbridge Consulting, declined to comment. Rio Tinto spokesman Tony Shaffer in London also said the company doesn’t comment on speculation.

Riversdale shares closed at A$14.10 on Dec. 3 in Sydney.

To contact the editor responsible for this story: Angus Whitley at awhitley1@bloomberg.net

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