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Key Points
- Seriti Resources launched the Naudesbank Colliery in Mpumalanga, investing $28 million to expand coal operations and create 300 jobs.
- CEO Mike Teke says the new mine reinforces Seriti’s commitment to economic growth, responsible mining, and reliable energy supply amid South Africa’s energy crisis.
- While coal remains its core business, Seriti is investing in renewables, including a 155-MW wind farm to power its mining operations.
Seriti Resources Holdings, a black-owned and controlled mining company led by South African tycoon Mike Teke, has launched a new coal mine in Mpumalanga as part of its efforts to expand operations while driving economic growth and job creation.
The Naudesbank Colliery, under Seriti Power, is expected to create 300 jobs and reinforce Seriti’s role as a key supplier of coal to South Africa’s state-owned power utility, Eskom. The company currently supplies about 32 percent of Eskom’s annual coal needs. With this new mine, Seriti is strengthening its position as the largest black-controlled coal producer while ensuring a stable, long-term supply of high-quality coal to fuel the country’s power stations.
Seriti expands coal operations in South Africa
Speaking at the launch, Seriti Resources CEO Mike Teke highlighted the significance of the project. “The opening of Naudesbank Colliery is a milestone for Seriti, Mpumalanga, and the country at large. Coal remains an essential part of South Africa's energy mix and export economy. This project reinforces our ability to provide reliable coal supply while creating jobs and boosting the local economy. Our investment in Naudesbank reflects our confidence in responsible mining and its role in driving economic growth and shared value.”
Seriti has invested R500 million ($28 million) in developing the mine and its infrastructure, which is located in the Chief Albert Luthuli Local Municipality of Mpumalanga. The colliery holds two separate mining rights covering Portion 9 and Main Mine. Throughout the development process, the company worked closely with local communities and remains committed to building strong, long-term partnerships that deliver mutual benefits.
During the official opening, South Africa’s Minister of Mineral Resources and Energy, Gwede Mantashe, emphasized coal’s continued importance in the country’s energy sector. While global energy trends are shifting toward renewables, coal remains critical for baseload power generation and supports thousands of jobs.
“The opening of Seriti’s Naudesbank Colliery demonstrates the ongoing growth of South Africa’s mining industry, particularly the coal sector. It also aligns with the government’s vision for inclusive economic growth, job creation, and poverty reduction,” the minister said.
Seriti balances coal and renewables
Founded in 2018, Seriti Resources is co-owned by four black anchor shareholders—Masimong Group, Thebe Investment Corporation, Zungu Investments (Zico), and Community Investment Holdings (CIH). The company produces 50 million metric tonnes of thermal coal annually and has been making strategic moves into renewable energy in response to the global transition toward cleaner power sources.
While coal remains its core business, Seriti is also investing in renewable energy through its subsidiary, Seriti Green. The company is currently constructing a 155-megawatt wind farm in Mpumalanga, part of a broader 900-MW renewable energy cluster planned for the region. Once completed, the wind farm will supply power to Seriti’s coal mining operations, marking a significant step toward reducing the company’s carbon footprint.
Seriti’s commitment to renewable energy was further solidified in December 2022 when it acquired a 100 percent stake in Windlab South Africa, giving Seriti Green access to a 4,000-MW pipeline of renewable energy projects. The company’s growing portfolio highlights its dual approach—sustaining coal production to support South Africa’s energy security while actively investing in cleaner energy solutions for the future.
