Shanduka seeks higher stake in coal

08 November 2011 | 11:37 Code : 20861 Geoscience events
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South Africa’s Shanduka Group said on Friday it wants to increase its stake in a coal venture it.0...

South Africa’s Shanduka Group said on Friday it wants to increase its stake in a coal venture it operates with global trader Glencore, although it would not confirm what that stake would be. Business Day newspaper reported on Friday that Shanduka was hoping to increase its share of Shanduka Coal, currently 70 percent owned by Glencore, to a controlling stake and hoped to conclude the deal before the end of the year. "The transaction we are pursuing with Glencore is still not finalised and once we have received the necessary approvals, we will provide more information," spokeswoman Maureen Mphatsoe said in response to emailed questions.


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