Polite under pressure
PROFILE: CEO of Seriti Resources Mike Teke
The former Optimum Coal CE wants to use Seriti Resources to create an SA mining champion, and has set his sights on a number of local coal assets
There has never been a better time to make acquisitions in SA, says Mike Teke, who leads Seriti Resources’ management team buying Anglo’s Eskom-tied thermal coal mines for R2.3bn. Teke’s investment company, Masimong, is one of the Seriti consortium’s members. Masimong, founded in 2013, has a focus on financial services, energy, agriculture and industry. Teke was born in KwaThema, Springs in 1964 and holds an MBA from Unisa. He started his career as a teacher in 1990 and in 1992 joined Lever Ponds. In 2000 he moved to BHP Billiton, where he rose to the position of vice-president of human resources at Ingwe Collieries. He was appointed head of human resources at Impala Platinum in 2005. In 2007 Optimum was formed, a 71% black-owned company whose shareholders included Teke, Mlungisi Kwini, Tom Borman, Peter Gain and the late Eliphus Monkoe. Optimum was listed on the JSE in 2010, with Teke as CEO, after acquiring Optimum Collieries, a stake in Koornfontein mines and a stake in Richards ...
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