Mike Teke Net Worth: Mining tycoon

Mike Teke Net Worth: Mining tycoon

Mike Teke is a South African Mining tycoon who has a net worth of R682 million, Mike Solomone Teke, the Chief Executive of Seriti Resources, has a story that inspires from his humble upbringing to his current status as a mining tycoon. Born on August 15, 1964, Mike grew up in Kwa Thema, a township in Gauteng, South Africa. His childhood was marked by simple meals of pap and spinach, highlighting the challenges his family faced.

Mike Teke

Mike Teke is the CEO of Seriti Resources Holdings, he co-founded in 2018. His qualifications include a BA (Ed), BEd, BA (Hons) and an MBA.

Mike has held HR roles at several companies including Unilever from 1992 to 1994, Bayer from 1994 to 1999, BHP Billiton from 2000 to 2005 and Impala Platinum from 2005 to 2007. Upon his departure at BHP Billiton, he became a founding member of Optimum Coal from 2007 to 2012 where he took on the role of CEO, and later Non- Executive Chairman until 2015.

Mike was also the VP of the Chamber of Mines in SA between 2011/12 and subsequently became the President from 2013 to 2017. He became the Chairman of the Richards Bay Coal Terminal Board in 2012 and stepped down in 2016 to become a Non-Executive Director and Chairman of the Remuneration Committee.


Despite facing hardships, Mike’s determination led him to pursue education, earning a Bachelor of Arts degree from the University of Limpopo and an MBA from the University of South Africa. He started his career as a teacher before venturing into human resources and eventually finding his path in the mining industry.

In 2008, Mike made a significant move by acquiring Optimum Coal and establishing himself as a key player in the coal industry. This marked the beginning of his journey towards building his mining empire.

In 2017, Mike co-founded Seriti Resources, a coal mining and energy company, alongside three other individuals. The company’s acquisition of Anglo American’s thermal coal assets solidified its position in the industry. Mike’s vision for Seriti Resources extends beyond coal mining, with the establishment of Seriti Green, a renewable energy business aimed at generating clean energy.

The life of Mike Teke

Despite facing setbacks due to the COVID-19 pandemic, Mike remains steadfast in his ambitions. He is known for his tireless work ethic and commitment to success, often sharing his “secrets of success” which include hard work, passion, and focus.

Beyond his business endeavors, Mike is an active philanthropist, dedicating his time to mentoring young people and giving back to his community. His journey from modest beginnings to becoming a prominent figure in the mining industry serves as a testament to the power of perseverance and hard work

Frequently Asked Questions About Mike Teke

Who is Mike Teke?

Mike Teke is a prominent South African mining tycoon and the Chief Executive of Seriti Resources, a coal mining and energy company. He has made significant contributions to the mining industry and is known for his entrepreneurial spirit and philanthropic efforts.

What is Seriti Resources?

Seriti Resources is a coal mining and energy company co-founded by Mike Teke. It has emerged as a major player in the industry, with a focus on acquiring and operating thermal coal assets in South Africa. The company also has ambitions to expand into renewable energy through its subsidiary, Seriti Green.

How did Mike Teke start his career?

Mike Teke began his career as a teacher before transitioning into human resources with various companies in South Africa. He later ventured into the mining industry and made significant investments in coal mining, including the acquisition of Optimum Coal in 2008.

What are Mike Teke’s achievements?

Mike Teke is widely recognized for his role in building Seriti Resources into a leading coal mining company. Under his leadership, Seriti has expanded its portfolio of businesses and acquired key assets in the industry. Additionally, Teke is known for his philanthropic efforts and commitment to mentoring young people.

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