South African Continental Coal Acquired

South African junior miner Continental Coal has acquired all of the outstanding shares in Mashala Resources, bringing its ownership of the Ferreira and Penumbra thermal coal mines to 100%, according to Platts. Continental first acquired 64.1% of the unlisted miner in September 2010, with plans to acquire the 35.9% balance in the future under the terms of the option agreements in cash or with the issuance of ordinary shares in the company up to an equivalent value.