Although State utility Eskom has referred to a change of ownership “sticking point” and the need for an urgent meeting with Anglo American, two labour unions have publicly backed the sale of Anglo’s Eskom-tied coal assets to Seriti, the new 79% black-owned start-up that is aspiring to be South Africa’s next big mining champion. Headed by mining luminary Mike Teke, Seriti easily ticks all the transformation boxes in being jointly owned by four equal anchor shareholders made up of Teke’s Masimong Group Holdings, Thebe Investment Corporation, headed by executive chairperson Vusi Khanyile, Zungu Investments Company, led by Sandile Zungu, and the black-women-led Community Investment Holdings Projects, which was established in 1995 by Dr Anna Mokgokong, who is also the Seriti chairperson, and Joe Madungandaba. Both the National Union of Mineworkers and the Solidarity union expressed strong support for the R2.3-billion deal, which is seen as being jobs positive.