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Competition Commission gives nod to South32 deal

A deal that will turn black-owned miner Seriti Resources into the largest supplier of coal to Eskom is one step closer now that the Competition Commission has recommended the transaction be approved.

The commission said on Sunday it has recommended that the Competition Tribunal approve the proposed transaction whereby Thabong Coal — a wholly-owned subsidiary of Seriti, which is headed by mining entrepreneur Mike Teke — intends to acquire SA Energy Coal from South32, a diversified miner that was spun out of BHP in 2015 and which is listed in SA and Australia.

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