Coal hungry Seriti Resources has acquired a majority stake in South32’s South Africa Energy Coal for R100 million. In addition, South32 will receive 49 per cent of the free cash flow generated by SAEC from the date the transaction until March 2024. That component will be limited to a maximum of R1.5 billion a year. CNBC Africa spoke to South32’s Chief Operating Officer, Mike Fraser and Seriti CEO, Mike Teke for more.