Glencore acquires controlling stake in Optimum Coal

Commodities trader Glencore International said on Tuesday it had acquired a further 36.56% interest in the Optimum Coal, following unconditional approval by the South African competition authorities. The consortium now holds directly and...

Company Announcement: Shanduka Group increases shareholding in Shanduka Coal

Shanduka Group, today announced that it has increased its shareholding in Shanduka Coal from 30% to 50.01%, which will result in Shanduka sharing control of Shanduka Coal with Glencore International plc.

Glencore, Ramaphosa propose cash takeover of Optimum Coal

A consortium including global commodities trader Glencore and South African businessperson Cyril Ramaphosa on Tuesday proposed a cash offer of JSE-listed Optimum Coal, which values the company at R8.5-billion. The consortium expressed an interest...

Optimum confirms unsolicited acquisition offer

South Africa’s sixth-largest coal producer Optimum Coal confirmed on Friday that it had received “unsolicited and nonbinding” expressions of interest from third parties to acquire a controlling interest in the company. But, the country’s...

R2,1bn Sentula-Shanduka deal to create midtier coal miner

Sentula Mining and Shanduka Resources have entered into a strategic merger agreement, through which Shanduka will control 51,9% of the new group for a total consideration of nearly R2,1-billion. The companies on Thursday reported the proposed...

M&A on way in Joburg, gold deal flow in Toronto – Nedbank Capital

Merger and acquisition (M&A) transacting is back with large M&A deals poised to be concluded in South Africa and gold-related deal flow being experienced by Nedbank Capital's office in Toronto, the bank's mining and resources unit informs Mining...

Petmin shares up on 46% earnings rise in tough conditions

The shares of multi-commodity mining and processing company Petmin rose on Tuesday on the back of the JSE-listed company's impressive 46% increase in headline earnings per share in difficult trading conditions. Petmin shares have risen more than...

Acquisitive Petmin has R180m cash, R150m bank facility

JSE- and Aim-listed anthracite- and silica-miner Petmin said on Monday it had R180-million in cash and another R150-million in unused bank facilities. Petmin COO Bradley Doig told Mining Weekly Online that the company intended using its cash...

Shareholder foresees long-term relationship with DRA

Investment company Shanduka Resources is confident that it will maintain its long-term commitment and 25,1% share in project house DRA Mineral Projects.

Petmin sees economic downturn impacting on silica, anthracite units

JSE- and Aim-listed minerals, mining and processing company Petmin on Monday, said that it expected the economic downturn to impact on the sales of its silica and anthracite divisions. Reporting on its results for the six months ended December...

Tribunal approves Shanduka’s Springlake acquisition

South Africa’s Competition Tribunal on Wednesday approved the acquisition of Springlake Holdings by empowered firm Shanduka Coal from minerals, mining and processing company Petmin. In October, Petmin announced that it would sell Springlake to...

Anthracite unit expected to boost Petmin’s earnings

JSE- and Aim-listed minerals, mining and processing company Petmin said on Tuesday that interim headline earnings a share were expected to rise by 70%, on the back of improved performance in its anthracite division. Headline earnings a share for...