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Business|Coal|Export|Financial|Resources
business|coal|export|financial|resources

Thungela completes buyout of Ensham stake

28th February 2025

By: Creamer Media Reporter

     

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All conditions precedent to Johannesburg- and London-listed Thungela Resources' buyout of the final 15% interest in the Ensham business, in Australia, for A$48-million, have been fulfilled.

Thungela acquired an 85% stake in the Queensland-based coal mine in late 2023 and, in December 2024, announced that it would acquire the remaining 15% interest in the mine.

The acquisition of the mine was pursued as part of Thungela's geographic diversification plans, while also giving it access to new markets and exposure to the Newcastle export coal price.

Meanwhile, Thungela has also advised shareholders that it expects to report a 27% to 34% decrease in earnings a share for the financial year ended December 31, to between R25 and R27.50, compared with R37.66 reported for the 2023 financial year.

Headline earnings a share are expected to decrease by between 24% and 31% to between R24 and R26.50, compared with R34.97 for the 2023 financial year.

Thungela will publish its full-year results on March 17.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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