News and media
Media coverage
These articles are not authored by or on behalf of Seriti Resources and the views of the author may differ somewhat to that of the company. Seriti takes no responsibility for the availability of the links below.
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2021
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Coal dependence will linger, says Mike Teke
[Mining Weekly] South Africa will continue to depend on coal for at least another 60 years as a baseload energy resource, and although its use will wane over time, it will remain an integral part of the Integrated Resource Plan, Seriti Resources CEO Mike Teke assures Mining Weekly.
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Exit of major thermal coal miners opens opportunity for local companies
[News24] The recent flight of major international thermal coal producers from South Africa must not be seen as a bad sign for the industry, but an opportunity for local companies to play a meaningful role in the sector.
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If done responsibly, coal mining can add value to economies – panel
[Mining Weekly] Coal miner Seriti Resources CEO Mike Teke echoes the sentiment, stating that although majors such as South32 have left the South African coal industry, it poses an opportunity for South African investors who have not been exposed to this commodity. Teke points out that, even with the Integrated Resources Plan’s goal of decreasing coal’s share […]
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South Africa’s Coal Producers Bring in Drones to Contain Theft
[Bloomberg] South African coal producers are battling to contain theft and using drones to help ensure the safety of staff and mines, according to some of the industry’s biggest companies and consumers. “We’re flying drones almost every night at every operation” to provide security, Seriti Resources Holdings Ltd. Chief Executive Officer Mike Teke said in an […]
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Local players see opportunities in multinationals’ exit from coal
[Business Day] The exodus from SA coal by multinational companies will make way for new local mining powerhouses, the CEOs of SA’s largest mining companies have said.
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CMTV Resources Watch
[Mining Weekly] The change of name of South African Energy Coal to Seriti Power when South32’s coal assets become absorbed into Seriti Resources from June is indicative of Sereti Resources seeing opportunities in general energy beyond coal.
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EDITORIAL: Eskom coal supply contract the pragmatic option
[Business Day] Eskom took its time to agree to a new, amended coal supply agreement for its Duvha power station. In the end, the amended deal with Seriti Resources, an acquisitive mining house with ambitions to become a black-owned SA mining champion, is sensible, judging by what has been publicly disclosed.
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Asian demand for South African export coal remains strong – Seriti
[Mining Weekly] Seriti Resources, which will take over South African Energy Coal (SAEC) from South32 on June 1, is particularly excited about the opportunity as the Seriti group to start now exporting coal in addition to continuing to support coal flows into Eskom.
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Eskom raises cost of coal in Seriti deal but gets a pile of benefits
[Business Day] Seriti Resources, the mining group run by Mike Teke, will take over South32’s SA coal assets in June now that Eskom has agreed to pay 33%, or R4bn, extra for coal supplied to its Duvha power station in Mpumalanga.
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PODCAST: The R1 deal that could make or break South Africa
[Business Day] In this latest edition of Podcasts from the Edge, Peter Bruce talks to Seriti Resources CEO Mike Teke about the choppy waters suddenly surrounding the agreement to take over the vast coal-mining resources of South32.
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MIKE TEKE: Transition from coal is required, but must be just and managed well
[Business Day] It takes some courage to write about coal and its future if you are suggesting it has a future. I have plucked up the courage to do it.
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2020
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WATCH: How Seriti is getting closer to being Eskom’s largest coal supplier
[Business Day TV] Seriti Resources CEO Mike Teke talks to Business Day TV about the group’s proposed acquisition of South32’s SA Energy Coal
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SA’s Competition Commission approves Seriti purchase of South32 coal assets
[miningmx] THE acquisition of South32’s South African Energy Coal (SAEC) to Seriti Resources has been recommended by South Africa’s Competition Commission, said BusinessLive.
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Competition Commission gives nod to South32 deal
[Business Day] 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.
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Teke urges power sector to usher in carbon capture, storage tech
[Mining Weekly] JOHANNESBURG (miningweekly.com) – South Africa has to start accelerating its drive towards a responsible transition to clean coal power generation technology to grow the country’s gross domestic product, economy and drive job creation, says empowered coal miner Seriti Resources CEO Mike Teke.
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Boost coal export efficiency as competition ramps up, says Seriti
[Mining Weekly] South African coal producers will need to boost efficiency as competition intensifies in coal export markets, says Mike Teke, CEO of black-owned and controlled coal mining company, Seriti Resources.
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Mike Teke’s Seriti Resources gives dignity back to South Africa
[Mining Review Africa] Coal mining magnet MIKE TEKE, the CEO of Seriti Resources, is in the process of establishing a coal power house in the country – driven by the need to contribute towards a prosperous energy future and fulfil its objective of help bring dignity back to South Africa’s citizens, writes LAURA CORNISH.
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2019
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Seriti Resources grows its coal portfolio even further
[Mining Review Africa] Black-owned and controlled coal mining company Seriti Resources has concluded an acquisition agreement with South32 to acquire South 32’s 91.835% shareholding in South Africa Energy Coal.
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Seriti to double coal production after agreeing terms with South32 for SAEC stake
[miningmx] SOUTH32 today concluded a binding agreement with black-controlled mining firm, Seriti Resources for the sale of its 91.8% stake in South African Energy Coal (SAEC), a business unit of the Perth- and Johannesburg-listed group that produces about 28 million tons a year (Mt/y) of coal, of which about half is to Eskom.
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South32 sale hinges on a better Eskom coal deal
[Business Day] Seriti Resources poised to become SA’s second-largest coal producer after Exxaro.
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Industry leaders debate challenges in South Africa
[Mining Review Africa] The mining sector in South Africa finds itself at an inflection point. As a primary sector within an economy that is struggling to grow, coupled with transformative global trends that have a prolific local impact.
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Long-term contracts are cure for Eskom’s coal cost woes, says South32
[Business Day] A move away for short-term supply contracts will lower costs and ensure quality. One of Eskom’s biggest suppliers has called on the state-owned power utility to return to long-term supply contracts to bring its coal costs down.
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SA mines minister throws weight behind Seriti bid for South32 coal mines
[miningmx] SOUTH African mines minister, Gwede Mantashe, said he supported a bid for the coal mines of South32 by the Seriti Resources consortium, describing the transaction as a new national mining champion in-the-making.
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SA’s national interest played a pivotal role in Seriti winning the rights to SA Energy Coal
[miningmx] AFTER more than 18 months of bidding, Seriti Resources has emerged as South32’s chosen one: the company that has the right to buy control of its 28 million tons (Mt) a month in South African coal production of which half is sold to Eskom.
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Seriti’s bid for South32 coal mines leaves 50 suitors in the dust
[Business Day] Australian company was inundated with expressions of interest before settling on Seriti
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South Africa will rely on coal for decades, key miner says
[Bloomberg] Seriti Resources, poised to become Africa’s second biggest coal producer, is betting that South Africa will rely on coal for decades even as Africa’s biggest emitter of greenhouse gases implements carbon taxes and is under pressure to improve air quality.
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Seriti Resources may turn to equipment makers as coal IPOs shunned
[Bloomberg] Seriti Resources, which is poised to become South Africa’s second-biggest coal producer, may take funding from equipment suppliers and hold off on a listing as the fuel is being shunned by financiers because of its environmental impact.
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Eskom could soon get new top coal supplier as South32 picks bidder
[Business Day] Seriti Resources, which has been scooping mining assets over the last two years, could become the biggest coal supplier to power utility Eskom as the black-owned miner tries to hammer out a deal to buy the domestic coal assets of global diversified mining company South32.
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South32 hand picks contender to acquire coal business
[Mining Review Africa] 91% black-owned and controlled coal mining company Seriti Resources has entered into exclusive negotiations for the sale and acquisition of South32’s South Africa Energy Coal (SAEC) business following a comprehensive and competitive bid process.
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Seriti in pole position for South32’s SA coal assets
[Business Day] Mike Teke’s Seriti Resources has emerged as the exclusive bidder for South32’s SA coal mines, the Australia-listed miner announced on Thursday.
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2018
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Seriti’s Teke awarded Brigadier Stokes Memorial Award
[Mining Weekly] The Southern African Institute of Mining and Metallurgy has awarded coal producer Seriti Resources CEO Mike Teke with a Brigadier Stokes Memorial Award for his contribution to the mining industry and his leadership role in society.
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Anglo completes sale of New Largo to Seriti
[Engineering News] Anglo American subsidiary Anglo American Inyosi Coal has completed the sale of the New Largo thermal coal project and the closed Old New Largo colliery, in South Africa, to New Largo Coal, which is co-owned by Seriti Resources, Coalzar and the Industrial Development Corporation.
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Mike Teke’s Seriti still has eye on Gupta coal assets as step towards big league
[Business Day] Seriti Resources CEO Mike Teke has reiterated that Seriti wants to become a coal exporter — and that it would be interested in buying the assets and quotas of the Gupta family’s Optimum Coal.
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Mike Teke’s Big Expansion Plans For Seriti
[Finweek] Seriti Resources snapped up a number of coal mines from Anglo American recently, and is also eyeing Optimum Coal. Financing, however, may prove to be a challenge.
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WATCH: Seriti wants to become a local mining champion
[Business Day TV] Seriti Resources has concluded a R2.3bn asset purchase of Eskom-tied thermal coal operations from Anglo American. The deal, which was announced last year, includes the acquisition of New Vaal, New Denmark and the Kriel mine as well as various mine life extension projects.
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Seriti has an eye on Optimum
[Business Day] Eskom’s new black-owned supplier, Seriti Resources, has finalised a R2.3bn cash purchase of three collieries from Anglo American and is keen to get its hands on the Guptas’ embattled Optimum mine.
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Anglo American Plc – Anglo American Completes Sale Of Eskom-tied Thermal Coal Operations In South Africa
[JSE SENS] Anglo American plc confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Africa to Seriti.
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Anglo concludes R2.3bn sale of Eskom-tied mines to Seriti
[Mining Weekly] Anglo American has completed the sale of its Eskom-tied thermal coal operations to broad-based, majority black-owned and -controlled South African mining company Seriti Resources, which is led by CEO Mike Teke, for R2.3-billion.
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Anglo American sells some collieries and mines to Seriti Resources
[Business Day] Anglo American concluded the R2.3bn sale of three collieries that supply Eskom with coal as well as four shuttered mines, to Seriti Resources.
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Anglo American completes sale of Eskom-tied operations
Anglo American confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Africa (the Operations) to Seriti (the Transaction).
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Anglo completes R2.3bn sale of Eskom coal
[Fin24] Cape Town – Anglo American [JSE:AGL] has completed the R2.3bn sale of its South African thermal coal operations to black-owned mining company Seriti Resources.
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Anglo American concludes sale of three coal mines in South Africa
[mining.com] Anglo American (LON:AAL) has completed the sale of three Eskom-tied thermal coal operations in South Africa to Seriti Resources, a group of black-controlled companies for R2.3 billion (about $164 million).
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SA coal entrant Seriti interested in buying Gupta mine, Optimum
[miningmx] SERITI Resources, the black-owned consortium that today concluded the R2.3bn purchase of thermal coal mines from Anglo American, said it would be interested in buying Optimum Coal Mine, the Gupta family-owned colliery that has been put into business rescue.
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2017
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Eskom approval is last remaining hurdle for R2.3bn Seriti Coal deal
[Engineering News] The black-empowerment consortium selected as the preferred bidder for Anglo American’s Eskom-tied coal operations is optimistic that the State-owned utility will approve the ceding of three coal supply agreements (CSAs) from Anglo to Seriti Coal by year-end.
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Anglo Coal’s Ndlovu optimistic about prospects, Seriti deal
[miningmx] WHEN July Ndlovu was appointed CEO of Anglo Coal South Africa, a division of the UK-listed group, the expectation was that his elevation to the 45 Main Street hierachy would be a short-lived one.
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Seriti Resources lines up R20bn New Largo project
[miningmx] SERITI Resources, the consortium that is concluding the purchase of Eskom-dedicated coal mines from Anglo American, is set to add to its asset base with an agreement to buy the New Largo project – a development that could see Seriti go public depending on its capital requirements.
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Watch: Mining Charter battle continues
[Business Day TV] Business Day TV interviews Mike Teke interview at the 2017 Mining Indaba
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The young Turks of SA’s emerging coal sector
[miningmx] ASKED to clarify the pronunciation of his name, Vuslat Bayoglu responded: “Call me Vusi”, normally a short version of a common South African name. This was the amusing riposte to conference host Bernard Swanepoel’s tongue-in-cheek complaint about the Turk, now in his fifteenth year in South Africa’s coal mining industry.
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