Head Topics

COAL CASH: Thungela delivers R2.5bn in dividends on stellar maiden results

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 84%

South Africa Headlines News

South Africa Latest News,South Africa Headlines

Thungela Resources, the thermal coal producer that was spun out of Anglo American as part of its low-carbon strategy, unveiled stellar maiden results on Tuesday – including R2.5-billion in dividends. The writing may be on the wall for fossil fuel, but it remains a money-spinner for now.

For the year to December 2021, Thungela posted a profit of R6.9-billion compared with a loss of R362-million the previous year, when it was still part of the Anglo American stable. This was largely driven by prices.

Still, Thungela – which means “to ignite” in isiZulu – has certainly lit up its shareholders. In the year to date, its share price is up over 80%. “Thungela expects to benefit from continued robust demand which, coupled with shrinking global thermal coal supply, has driven thermal coal prices to record levels,” Ndlovu added.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Thungela posts stellar results - but Transnet rail woes cost it R2 billion | Fin24The miner posted strong annual results on the back of strong coal prices and despite severe logistics issues.
Source: Fin24 - 🏆 21. / 63 Read more »

Cut your Eskom bill and protect against load-shedding for R2,500 per monthSouth African households can protect themselves against load-shedding and cut their Eskom bill with a rent-to-own solar power installation that costs R2,500 per month.
Source: mybroadband - 🏆 11. / 67 Read more »

Thungela posts stellar results - but Transnet rail woes cost it R2 billion | Fin24The miner posted strong annual results on the back of strong coal prices and despite severe logistics issues.
Source: Fin24 - 🏆 21. / 63 Read more »

Thungela declares maiden dividend of R18 a shareMiner benefits from record high coal prices driven by demand in China
Source: BDliveSA - 🏆 12. / 63 Read more »

Thungela declares maiden dividend of R18 a shareMiner benefits from record high coal prices driven by demand in China
Source: BDliveSA - 🏆 12. / 63 Read more »

Market Watcher: ‘Buy on rumour, sell on facts’PSG's Schalk Louw gives us some interesting history on the rand, touches on Thungela's maiden full-year results and Master Drilling's growth trajectory, and asks whether Murray & Roberts – having secured a massive Australian rail tender – could be the answer to Transnet’s problems.
Source: Moneyweb - 🏆 5. / 77 Read more »