Seriti assures Competition Tribunal merger will benefit communities
If approved the deal to buy SA Energy Coal will make the company the second-largest SA coal producer
He will ensure that the communities around the SA Energy Coal (SAEC) operations in Mpumalanga are not left behind when his company acquires the business from Australian miner South32, says the head of Seriti Resources, the black-owned mining company that has long-term coal contracts with Eskom.
Seriti CEO Mike Teke appeared as a witness at the merger hearing before the Competition Tribunal on Monday. Last year, it was announced that Seriti would acquire the SAEC business from South32 for an upfront payment of R100m. Approval from the competition watchdog is critical for the deal to go through — which South32 has repeatedly assured investors will happen before the end of the 2020 calendar year...