South African Tycoon Mike Teke's Seriti Unveils New Coal Mine, 300 Jobs To Follow

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 Seritis commitment to economic growth, responsible mining, and reliable energy supply amid South Africas 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 Seritis role as a key supplier of coal to South Africas state-owned power utility, Eskom. The company currently supplies about 32 percent of Eskoms 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 countrys power stations.

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 Africas Minister of Mineral Resources and Energy, Gwede Mantashe, emphasized coals continued importance in the countrys energy sector. While global energy trends are shifting toward renewables, coal remains critical for baseload power generation and supports thousands of jobs.