Mike Teke’s Seriti still has eye on Gupta coal assets as step towards big league
Just like when you grow up there are things that you desire in a toy store, there are assets I desire to own
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. BusinessLIVE reported in March that Teke had an eye on the mine. Bidding for Optimum Coal would pit Seriti, which has ambitions to become a black-owned mining champion, against bigger miner Exxaro, which has expressed interest in buying Optimum’s coal export quotas. Optimum, which is in business rescue, has not clarified whether its assets are up for sale but Teke, who is also a shareholder in Seriti, used to own a stake in the company until Glencore bid for it in 2011.