Eskom could soon get new top coal supplier as South32 picks bidder
If Seriti Resources acquires SA Energy Coal, it could ultimately become the single largest supplier of Eskom coal
Seriti Resources, which has been scooping mining assets over the last two years, could become the biggest coal supplier to power utility Eskom as the black-owned miner tries to hammer out a deal to buy the domestic coal assets of global diversified mining company South32.
On Thursday, South32 said Seriti was the exclusive bidder for its local coal assets, giving the company the space to strike a deal without interference from other parties. Seriti was incorporated in 2017 and acquired Anglo American’s Eskom-tied coal mines which supply about 24-million tons or 20% of Eskom’s coal.