Following the fulfilment on 15 May 2021 of all conditions precedent in respect of Seriti’s acquisition of South32 SA Coal Holdings (SAEC), Seriti has advised that the transaction has now closed and that it has assumed management of these operations from 1 June 2021.
SAEC has been renamed Seriti Power, and comprises the Khutala, Klipspruit, and Middelburg Mines Services (MMS) North and South mines, which provide coal to the Kendal and Duhva power stations, as well as export coal via the Richards Bay Coal Terminal.
Seriti holds a 90% interest in Seriti Power, while an Employee Trust and Community Trust each hold a 5% interest.
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Seriti CEO Mike Teke said:
“This is an important milestone for Seriti and for the more than 8,000 employees that we welcome into the Seriti family. We are confident of continuing to supply sustainable, reliable and cost-effective coal to Eskom, as we play our role in ‘keeping the lights on’ in South Africa.”