Thungela CEO sees world shunning new coal as boon for existing mines

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Thungela CEO sees world shunning new coal as boon for existing mines
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New coal investment may be drying up as the world seeks greener energy, but for miners like South Africa’s Thungela Resources that could be a boon if Asia’s ravenous appetite keeps prices bouyant, its CEO said on Friday.

“If you’ve got long life, competitive assets which are low cost, those assets are going to be very valuable,” he said, adding that he currently had no new acquisitions planned. “I think in the short to medium term, certainly up to 2030 … we’re going to see flat to marginal growth … driven primarily by Asia,” he said.

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