Glencore to buy Mercuria stake

[] — GLENCORE, the Swiss commodities firm, has entered into an agreement to buy Mercuria Energy Group’s stake in Optimum Coal Holdings, the South African coal producer Glencore is in the process of buying.

In September, Mercuria Energy Asset Management increased its shares in Optimum to 5.71%, according to Dow Jones, a newswire.

Optimum and Mercuria have signed a marketing agreement where Mercuria will
represent coal for export not already committed to a buyer, Dow Jones said.

However, Glencore hasn’t yet made a formal offer to buy a controlling stake in Optimum, Dow Jones said. Glencore declined to comment.

Optimum Coal is South Africa’s sixth largest coal producer and the fourth
largest exporter.