Our business

New Largo

Seriti has commenced limited mining operations at its New Largo Colliery, which is located 15 km north of Emalahleni, in Mpumalanga.

New Largo, which has a resource of 585Mt, has the potential to become a large-scale, long-life coal mine, able to supply Eskom’s adjacent Kusile power station with around 12 Mtpa of thermal coal over a 50-year period.

Seriti has a 67.5% stake in New Largo Coal together with the Industrial Development Corporation (22.5% shareholding) and the New Largo Employee and Community Trusts, which each hold 5%.

A bankable feasibility study is complete, and various funding mechanisms – including listing, project financing and equipment financing – remain under consideration.

Seriti is engaging with Eskom to reach a commercially viable and sustainable coal supply agreement. It is envisaged that the project will be developed in three phases in line with Kusile’s needs.

New Largo’s export potential continues to be explored.

Employee/community trust

Employee and Community Trusts

Seriti Resources has allocated an unencumbered shareholding of 5% to trusts established for the benefit of employees and 5% to trusts established for the benefit of the members of communities adjacent its mines.

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