Building A New SA Mining Giant
Finweek English|20 April 2017

Masimong Group has an appetite for expansion, recently having struck deals with Anglo American. But it won’t stop there.

David McKay
Building A New SA Mining Giant
Mike Teke, chairman of Masimong Group Holdings, is not wanting for ambition.Masimong Group’s 25% stake in Seriti Resources, the company that last week successfully bid R2.3bn for Anglo American’s Eskom-dedicated thermal coal mines, could be the beginning of something significant in SA mining. “We want to build something really big in the league of Anglo. We want to create a mining champion,” he said in an interview with finweek at his Illovo offices.

Teke is joined in Seriti by Sandile Zungu, executive chairman of Zungu Investments, and Thebe Investment Corporation and Community Investment Holdings Project. Zungu has been invested in SA mining since 2003 when, as head of African Vanguard Resources, he bought a 26% stake in Harmony Gold’s Doornkop South project for R1.3bn. Zungu later went on to establish Zungu Investments Company or Zico, which is the entity that has taken a 25% stake in Seriti. In addition to the Harmony Gold mine, it bought an interest in Rockwell Diamonds and was the lead investor in the Micawber consortium that took a share in Dominion, the failed uranium start-up in Neal Froneman’s Uranium One.

As for Community Investment Holdings, it is a R20bn-a-year business invested in mining, logistics and infrastructure as well as power and energy, which is co-owned by Anna Mokgokong. Mokgokong, who will be chairwoman of Seriti, is married to Pius Mokgokong, whose company Liketh Investments has two coal supply agreements (CSAs) with Eskom.

Diese Geschichte stammt aus der 20 April 2017-Ausgabe von Finweek English.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der 20 April 2017-Ausgabe von Finweek English.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS FINWEEK ENGLISHAlle anzeigen
THE HEALTH OF SA'S MEDICAL SCHEMES
Finweek English

THE HEALTH OF SA'S MEDICAL SCHEMES

As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.

time-read
7 Minuten  |
5 November 2021
The effect of Gilbertson's departure
Finweek English

The effect of Gilbertson's departure

With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.

time-read
3 Minuten  |
5 November 2021
Making money from music
Finweek English

Making money from music

Why investors are increasingly drawn to the music industry.

time-read
3 Minuten  |
5 November 2021
Conviction is key
Finweek English

Conviction is key

Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.

time-read
5 Minuten  |
5 November 2021
The post-pandemic toolkit
Finweek English

The post-pandemic toolkit

How CFOs can use technology to support growth.

time-read
4 Minuten  |
5 November 2021
Big city living exodus
Finweek English

Big city living exodus

Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.

time-read
3 Minuten  |
5 November 2021
Big compact, big value
Finweek English

Big compact, big value

Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.

time-read
3 Minuten  |
5 November 2021
On barriers to entry
Finweek English

On barriers to entry

There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.

time-read
2 Minuten  |
5 November 2021
Fear and greed in one index
Finweek English

Fear and greed in one index

To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.

time-read
3 Minuten  |
5 November 2021
Africa's largest data centre facility coming soon
Finweek English

Africa's largest data centre facility coming soon

Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.

time-read
3 Minuten  |
5 November 2021