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.