The consortium recently bought another 36.56% of Optimum Coal Holdings.

That purchase, which was approved by South African competition authorities, takes the consortium’s stake in Optimum to 67.77%.

It also brought the consortium 35% of the voting rights in Optimum.

Under South African competition law, this means the consortium has to make an offer to acquire all the shares of Optimum that it does not own or control.

The consortium is offering those shareholders 38R/share in cash.

Glencore coal/coke commodity department director Tor Peterson said Optimum would add to the commodity trader’s coal presence in South Africa.

He said it would be “highly complementary to our joint venture Shanduka Coal and our investment in Umcebo”