Mike Teke, chairman of Seriti Resources Holdings and Masimong Group, leading South Africa’s energy and investment sector, believes South Africa will continue mining coal until 2050 despite the country’s energy transition, arguing that the retirement of coal-fired power stations and depletion of mines will take decades.

Speaking on the second day of the Joburg Indaba 2026, Teke said South Africa’s existing reliance on coal-fired electricity makes an immediate phase-out unrealistic, even as the country confronts climate change and global warming.

Mike Teke believes coal mining could continue until 2050

South Africa is facing the gradual retirement of coal-fired power stations, but Mike Teke, group chief executive of Seriti Resources, believes the country’s coal industry could continue operating until 2050. Teke has acknowledged the challenge posed by climate change and global warming. His position, however, is that the transition away from coal will not happen as quickly as some expectations suggest.

South Africa has 16 coal-fired power stations, with 80% located in Mpumalanga, the country’s principal coal-producing province. The concentration of power generation and mining activity underscores the challenges of transitioning away from coal without disrupting electricity supply and regional economic activity. “I still believe we will be mining coal in 2050,” Teke said, adding that the retirement of coal-fired power stations and the depletion of some coal mines would not happen by 2027 or 2028.

He stressed, however, that continued coal production should not be interpreted as a dismissal of environmental concerns. “But that doesn’t mean that we don’t recognise that climate change and global warming are among the greatest challenges that we face,” he said.

South Africa balances coal dependence with energy transition

Teke’s remarks highlight the tension between South Africa’s continued reliance on coal and its longer-term transition towards cleaner energy sources.

The country’s coal industry remains closely tied to electricity generation, employment and economic activity, particularly in Mpumalanga. A rapid shift away from coal could therefore have significant implications for mining communities, workers and energy security.

At the same time, the anticipated retirement of ageing power stations and the eventual depletion of existing coal reserves will require changes across the country’s energy and mining industries.

The discussions at Joburg Indaba 2026 reflected a broader shift in South African mining, with industry participants increasingly examining future investment opportunities alongside longstanding challenges such as electricity shortages, policy uncertainty and constrained growth.

Mike Teke: Ex-teacher leading South African multibillion-rand energy group

In South Africa’s mining and energy sector, Mike Teke has built a reputation as a steady business leader whose rise reflects years of experience across education, human resources, mining, and investment. Today, he leads Seriti Resources Holdings, a black-owned and controlled multibillion-rand giant that has grown into one of South Africa’s most influential energy companies.

Under his leadership, the company supplies a significant share of the country’s electricity while investing in renewable energy projects, reinforcing its position across the region. His role at Seriti, combined with his leadership of the billion-dollar Masimong Group, places him among the key figures shaping South Africa’s energy and investment sectors.

For Seriti Resources, one of South Africa’s major coal producers, the transition presents a long-term challenge: sustaining operations while recognising the growing importance of climate considerations and changes in the country’s energy mix.

Teke’s outlook suggests that coal will remain part of South Africa’s energy landscape for decades, even as the country works towards a more diversified electricity system.