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Description

Seriti is a broad based, 91% black owned and controlled South African mining company co-owned by four black anchor shareholders, Masimong Group, Thebe Investments, Zungu Investments (Zico) and Community Investment Holdings (CIH). With Dr Anna Mokgokong and Mike Teke respectively as Chair and CEO at the helm, the company is directed by a board and management team who collectively have significant and relevant experience in the acquisition, operation and development of large-scale coal operations in the country. In April 2017 Seriti was incorporated to acquire the New Vaal, New Denmark and Kriel operations from Anglo American, as well as various life extension coal resources and closed collieries, and on 1 June 2021, Seriti acquired South Africa Energy Coal (SAEC) from South32. The acquisition of the SAEC assets will help ensure the future of coal mining and generation of sustainable, reliable, and transformational energy for South Africa, the South African Development Community (SADC), Sub-Saharan Africa and global coal export markets. Seriti is currently Eskom's largest black controlled coal supplier, with a clear focus on providing Eskom with secure, long-term coal supply solutions to fuel its power station fleet. As a company we also believe in establishing a sustainable legacy for the communities in which we operate, and the mining industry as a whole. To support this philosophy, 10% of our equity has been ring-fenced equally for the benefit of employees and communities through employee and community trusts. We aim to be an industry leading empowerment champion that rejuvenates the mining industry and actively builds a legacy that creates growth for our stakeholders and our country.