Riversdale Mining’s Quarterly Report December 2009 January 29, 2010

Riversdale Mining (ASX: RIV) reports on a busy quarter ending 31 December 2009.

HIGHLIGHTS:

Benga Coal Project (Riversdale 65%)

• Riversdale and Tata Steel have approved development of Stage 1 at a cost of US$270 million, excluding working capital.
• Development is based on a Feasibility Study which has been completed by the joint venture parties.
• Approval for the Environmental Impact Study (‘EIS’) on the project has been granted by the Ministério para a Coordenação da Acção Ambiental (‘MICOA’), the regulatory authority for environment within the Government of Mozambique.
• The EIS approval is in respect of Riversdale’s long term plan for a 20 million tonne per year coking and thermal coal project.
• Orders have been placed for longlead equipment.

Benga Power Plant

• Approval for the Benga Power Plant (‘BPP’) EIS granted by MICOA.
• Riversdale has received confirmation of access to the existing Mozambique power transmission network.
• The Benga Coal Project will supply thermal coal to the power plant.
• Discussions are continuing with potential offtake and development parties.

Zambeze Project Coal Resource EPL946L (Riversdale 100%)

• Drilling on EPL946L delivers an Indicated Coal Resource of 1.70 billion tonnes.
• This represents a second project for Riversdale and adds to the existing 4.0 billion tonne Coal Resource on the 65% owned Benga Coal Project.
• Various development alternatives are being evaluated.
• Products comprise hard coking coal and thermal coal.
• The government has granted a lease extension for a further 3 years.

Exploration in Mozambique

• Reconnaissance drilling is under way on licences in the Tete, Changara and Cahora Bassa areas.
• A number of promising prospects have been identified by drilling on the Changara leases west of Tete.

Zululand Anthracite Colliery (ZAC)

• ROM production for the December quarter was 184,524 tonnes, a decrease of 27,722 tonnes on the September quarter.
• Saleable production totalled 162,074 tonnes for the December quarter.
• Product sales were 204,519 tonnes, the highest since the June 2007 quarter as market conditions improve.
• The Western Extension is now fully operational.

Corporate

• Cash on hand was A$258 million at 31 December 2009.

Click here to view the full announcement.

For further information, please contact:

Michael O’Keeffe
Executive Chairman
P: +61 2 8299 7900

Steve Mallyon
Managing Director
P: +61 2 8299 7900

Niall Lenahan
Company Secretary
P: +61 2 8299 7900

Bill Kemmery
Media: Fortbridge
P: +612 9331 0655
M: +61 400 122 449
E: bill.kemmery@fortbridge.com