Saturday, November 28, 2020

Seriti Mining Company

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https://seritiza.com
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. Seriti was incorporated to acquire the New Vaal, New Denmark and Kriel mines from Anglo American, as well as various life extension coal resources and closed collieries. This acquisition positions Seriti as major South African mining company responsible for supplying approximately 24Mtpa of thermal coal to Eskom’s Lethabo, Tutuka and Kriel power stations, which collectively generate about 23% of the country’s electricity. In addition, the acquisition effectively makes Seriti 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.

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