A new aspirant South African mining champion on Monday announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to the State electricity provider. Seriti Resources, the company Anglo named as the proposed buyer of the four Eskom-tied coal mines and four dormant coal assets, is a new 79% black-owned company, which easily ticks the transformation boxes demanded by both Eskom and Department of Mineral Resources (DMR) and which is an earlier displayer of the kind of corporate patriotism that South Africa desperately needs during this time of downward credit rating decisions.
