Seriti confirms Section 189A consultation process

Johannesburg, 17 September 2024. At Seriti it is critical to ensure that every coal mine that we own and operate is commercially sustainable.

Our multi-product operations at Middelburg Mine Services (“MMS”) and at Klipspruit South-East pit together with related opencast activities (“Klipspruit Opencast”) are not currently commercially sustainable and require material restructuring to improve unit costs and the prospects of future sustainability. Further, these mines continue to be adversely impacted by, amongst others, Transnet under-performance and generally market volatility.

Consequently, a single Section 189A consultation process – under the auspices of the Commission for Conciliation, Mediation, and Arbitration (CCMA) – commenced on 16 September 2024 and is expected, in the aggregate, to affect up to 1 241 roles of which 1 137 employees are likely to be retrenched across MMS, Klipspruit operations and our corporate services team which is to be re-sized to service a smaller base of operational mines.

“We recognise that this exercise will negatively impact our workforce and local communities. We have not taken this step lightly. We will continue to engage openly and constructively with our employees and organised labour to ensure the best outcome for all concerned,” says Mike Teke, Group Chief Executive Officer of Seriti Resources.

Seriti remains fully committed to honouring its coal supply obligations to Eskom, inland customers and the export markets.

For further information please contact:
Seriti Resources
Linda Khuluse
Group Communication, Media & Branding Manager
T +27 11 047 7000
E: linda.khuluse@seritiza.com or media.queries@seritiza.com