Thungela Resources raises coal production outlook, plans more acquisitions after Ensham mine buy.
Thungela Resources, a South African coal producer, raised its coal production outlook and plans to buy more coal assets following the acquisition of Australia's Ensham mine last year. Despite rail constraints and weaker coal prices, Thungela generated an adjusted operating free cash flow of R6.8 billion and a net cash of R10.2 billion, and announced a share buyback of up to R500 million and a final dividend of R10 per share.
March 18, 2024
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