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DONE DEAL: CYRIL RAMAPHOSA Photo: KEVIN SUTHERLAND

A consortium including a Glencore subsidiary, Piruto BV and Ramaphosa's Lexshell 849 have been in talks since last year to buy a controlling stake in Optimum.

Optimum is South Africa's sixth biggest coal miner, deemed attractive due to its reserves and access to the Richards Bay Coal Terminal.

"The Consortium has now acquired, directly and indirectly, 71.10% of the issued ordinary share capital of Optimum," Optimum said in a statement.

Shareholders holding some 7.79 million of Optimum shares have accepted the mandatory offer of R38 per share, which closed on Friday. Part of the company is owned by its employees and the local communities via two trusts.

Optimum will be delisted from the Johannesburg Stock Exchange, with the date for the delisting set for July 6.

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Wed May 22 18:46:23 SAST 2013 ::

Jun 26, 2012

Curry

Why is BBBEE not working for me, my dad was killed ngamabhulu
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Jun 26, 2012

Senganga247

Mr Ramaphosa investing in mining and we expect the same person to rule over the appeal by ANCYL which advocates nationalisation. Surely He was going to protect His own.

Eya ne!!!!!!!!!!
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Jun 27, 2012

DimaaneZB

He must pay Molope his monies. You will never become the president. So Optimum is owned by Mantashe,is quite interesting.
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Jul 2, 2012

patito

we must start to give respect to BLACK BUSSINESS MAN AND WEMAN WHO DOING WELL,AMANDLAAA!
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