JSE-listed Thungela, a spin-off from the leaner and greener Anglo American, made the announcement on Monday in a trading statement. It will release its interim results in August.
So the company has had to cut production at a time of red-hot prices. These trends have been reflected in the monthly mining production data.https://www.dailymaverick.co.za/article/2022-06-09-the-partys-over-as-mining-and-manufacturing-production-crash-in-april/ And it’s still making money as coal – the commodity that many love to hate – has made an unexpected comeback this year for a range of reasons, including supply concerns linked to the Russian invasion of Ukraine.
The bottom line is that earnings per share are expected to soar almost twentyfold to at least R58 from R3.13 in the same time frame last year, and Thungela expects to reward shareholders with an interim dividend.
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