Optimum Coal Holdings Limited (“Optimum Coal”), the black-owned and controlled South African coal mining group, announced today that it has entered into a strategic alliance with the Mercuria Energy Group (“Mercuria”). Mercuria, one of the world’s largest independent commodity traders, has also made a BEE equity investment into Optimum.
Under the alliance, Mercuria will act as exclusive marketer for Optimum in respect of all uncommitted export quality coal produced by the Optimum Group for a minimum period of ten years.
On 1st February 2010, Optimum Coal announced its intention to float on the JSE Limited during the first half of this year.
Optimum Coal’s vision is to become the country’s benchmark South African-owned and controlled coal mining and exploration group. The company is well-positioned to take advantage of current and future commercial opportunities by continuing to focus primarily on coal and to maximise its exposure to the export coal market.
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