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. Mike Teke, Seriti’s CEO, was the head of JSE-listed Optimum before it was bought by Glencore. Knowing the colliery well, he said Seriti would be very interested if it came up for sale. "I never wanted Optimum to be sold. I know it very well. I’ve not spoken to the board yet about Optimum but it’s something we can explore. If I presented it to them a plan will have to come up," he said. Having access to Optimum, a mine owned by the Guptas’ Tegeta Resources, which has placed the mine in business rescue, would give Seriti export thermal coal. This would be desirable if Seriti wanted to list, adding to the steady revenue stream from cost-plus supply contracts with Eskom. Teke said he and another partner in Seriti were exploring vast coal deposits in the Waterberg and were in talks with the com...

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