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Glencore, Partner Look To Buy Optimum Coal

Commodities trading firm Glencore and its South African partner Cyril Ramaphosa are looking to acquire Optimum Coal Holdings.

Commodities trading firm Glencore and its South African partner Cyril Ramaphosa are looking to acquire Optimum Coal Holdings, Reuters reports. Optimum Coal was earlier owned by mining company BHP Billiton.

Glencore, which has $10.4 billion of cash to spend, is seeking acquisitions more aggressively. Ramaphosa’s unlisted Shanduka Resources holds 30% of Shanduka Coal, a venture with Glencore.

Click here for the story from Reuters.

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