Who we are
Seriti is a broad-based, 91% black-owned and controlled South African mining company co-owned by four anchor shareholders: Masimong Group, Thebe Investments, Zungu Investments (Zico) and Community Investment Holdings (CIH).
Our subsidiary, Seriti Coal, operates three large-scale, opencast and underground thermal coal mines – the New Vaal, New Denmark and Kriel collieries, which respectively supply Eskom’s Lethabo, Tutuka and Kriel power stations. We are currently developing the New Largo mine to meet the needs of the adjacent Kusile power station.
On 1 June 2021, Seriti acquired the operations of SA Coal Holdings Proprietary Limited (SAEC) from South32, bringing into the fold the Khutala, Klipspruit, Middelburg and Wolvekrans Mines which provide coal to the Kendal and Duhva power stations, as well as export coal via the Richards Bay Coal Terminal.
Our focus is to responsibly produce high-quality, secure and long-term coal-solutions to fuel South Africa’s power stations. We will also produce high quality coal for export markets.
Our mission is to be an industry-leading empowerment champion, rejuvenating the mining industry and actively building a legacy that creates growth for all our stakeholders and the country. Our Employee and Community trusts, which own 10% of our operations, have a direct and meaningful interest in our business.
Keeping the lights on
Seriti is currently Eskom’s largest black-controlled coal supplier, with a clear focus on providing secure, long-term coal supply solutions to fuel its power stations. Together, Seriti Coal and Seriti Power are responsible for around 32% of Eskom’s annual coal supply.
As a dedicated, South African-owned company, Seriti brings significant benefit to Eskom involving a basket of solutions, including economies of scale. We have a track record as a capable and financially sound business, with a substantial balance sheet, which can support Eskom in a robust and sustainable manner. This has enabled Seriti to benefit from and embed material operational efficiencies, which ultimately flow through for the benefit of Eskom.
By providing coal of the quality required by Eskom’s power stations at a cost sustainable to our business and fair to Eskom, Seriti is playing its part in keeping South Africa’s lights on at the optimal price for the consumer.
Our name, Seriti, is derived from a Sesotho word meaning integrity.
It describes the aura cast by people as they go through life – the shadow that grows when an entity does good or diminishes if it misbehaves. So in essence, ‘seriti’ is your reputation and ultimately your legacy. At Seriti, we aim to be constantly aware of the shadow we cast, and aim to create a positive, empowering and sustainable legacy for our stakeholders, and our country.