Rio Tinto's Head Of Exploration Named CEO Of Riversdale Mining

Rio Tinto PLC's (RIO) head of exploration, Eric Finlayson, will become chief executive of newly acquired Riversdale Mining Ltd. (RIV.AU), the coal company said Friday.

Riversdale said Finlayson will assume the new post July 1 and will base himself in Maputo, Mozambique, the southern African country where the company is developing two coal mines.

Steve Mallyon, who has been managing director of the Sydney-based company since August 2008 and was in charge of the company's operations and financial performance, will become a special advisor to Finlayson in order to ensure a smooth transition, Riversdale said.

Finlayson, who grew up in a coal mining town in central Scotland, joined Rio Tinto in 1989 and has held senior roles in the company's exploration division in Vancouver, London and Perth.

Rio Tinto is mopping up the outstanding shares in Riversdale it hasn't yet acquired as part of its A$4 billion takeover and earlier Friday said it would exercise its right to compulsorily acquire the shares. Its interest in Riversdale is 99.76%.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com

Riversdale Mining (ASX:RIV)
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