India's government plans to offer more than Rio Tinto Group's A$3.9 billion ($3.9 billion) bid to buy Australia's Riversdale Mining Ltd., Chairman C.S. Verma said.
International Coal Ventures Ltd., a group of Indian state- run metal and energy companies, will decide on a price for the Sydney-based coal company with mines in Mozambique at a board meeting in New Delhi on Jan. 27, Verma said in an interview in Kolkata today. Rio Tinto, which offered A$16 a share, said yesterday it received unconditional approval from the Australian Treasurer to buy Riversdale.
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