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South Africa's competition body approves sale of Glencore's Optimum mine to Tegeta

Reuters - UK Focus

JOHANNESBURG, Feb 11 (Reuters) - South Africa's Competition Commission on Thursday approved the sale of Glencore (Xetra: A1JAGV - news) 's Optimum Coal Mine to local firm Tegeta, but said the deal should proceed without job losses.

"The proposed transaction is unlikely to substantially prevent or lessen competition in the thermal coal market," the antitrust body said in a statement.

Optimum was forced into business rescue in August after cash-strapped power utility Eskom said it would no longer pay for the running costs of the mine.

(Reporting by Peroshni Govender; Editing by James Macharia)