Global miner Rio Tinto is in talks with Brazil's CSN to secure a majority stake in Africa-focused Riversdale Mining in a last-ditch bid to save its A$3.9 billion ($4 billion) takeover offer, a source said on Tuesday. The offer, announced in December, was conditional on at least 50 percent acceptances, but so far Rio Tinto has secured only about 41 percent in its third major deal attempt since a badly timed $40 billion takeover of Alcan in 2007. Rio has targeted Riversdale for a takeover because of its hard coking coal projects in Mozambique, which could eventually supply as much as one-tenth of the global market for the key steel-making ingredient.
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