Robust global coal prices and the benefits of restructuring ahead of its demerger from Anglo helped the group make a R351m profit to end-June
Thungela Resources, the coal miner spun off from Anglo American, has posted a R351m maiden profit in its six months to end-June, benefiting from a rebound in global coal prices as well as restructuring undertaken ahead of its listing.
Though comparisons of its financial performance have been made difficult by the asset reshuffle as Anglo carved out its SA coal operations, Thungela said on Friday R3bn in net cash, robust commodity prices and the prospect of a better performance by Transnet Freight Rail were paving the way for a maiden dividend at the end of the year...
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