Johannesburg, 1 June 2021: Following the fulfilment on 15 May 2021 of all conditions precedent in respect of Seriti’s acquisition of South32 SA Coal Holdings Proprietary Limited (SAEC), Seriti is pleased to advise that the transaction has now closed and that it has assumed management of these operations from 1 June 2021.
SAEC has been renamed Seriti Power, and comprises the Khutala, Klipspruit, and Middelburg Mines Services (MMS) North and South mines, which provide coal to the Kendal and Duhva power stations, as well as export coal via the Richards Bay Coal Terminal. Seriti holds a 90% interest in Seriti Power, while an Employee Trust and Community Trust each hold a 5% interest.
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