Thungela ices M&A to focus on “market confidence”
THUNGELA Resources has taken its foot off the diversification pedal telling analysts and investors last week that it was focusing on improving operational performance. “Our main…
Thungela CEO upbeat despite coal price slide
THUNGELA Resources level-pegged on coal export volumes for the six months to end-June but earnings were clobbered by lower export prices which dropped 11% for South African…
Global shocks have debunked the peak coal myth
THE world burns nearly double the amount of coal today compared to 2000, and four times the amount consumed in 1950. Every minute, 16,700 tons of coal are excavated globally –…
Are banks becoming coal-curious? Mike Teke thinks so
ONE sign coal’s reputation is being gradually rehabiliated is that banks and insurers are becoming interested in the the mineral again. “I think people are reviewing their…
Seriti CEO takes helm of Global Coal Alliance
THE Global Alliance for Sustainable Coal has named Mike Teke, Group CEO of Seriti Resources, as its new chairman, the organisation said Tuesday. Teke replaces July Ndlovu, who…
Coal decline risks poverty crisis, warns Thungela chief
THE uncontrolled decline of coal production poses a greater immediate threat to global communities than climate change itself, according to July Ndlovu, the outgoing CEO of…
Thungela, the coal mining success no-one expected
STRICTLY speaking, Thungela Resources CEO July Ndlovu is retiring a year earlier than at the firm’s mandatory age of 60. In a twist of fate his papers were destroyed during…
Thungela CEO says firm favours metallurgical coal deals
THUNGELA Resources would consider adding metallurgical coal assets to its portfolio as there was a “natural adjacency” to its thermal coal production, said CEO July Ndlovu.…
Thungela interested in leasing Sasol coal for export
THUNGELA was interested in exporting about two million tons of coal produced by Sasol, the Johannesburg-listed firm’s CEO said on Monday. Sasol said in February it was exiting…
Transnet’s Network Statement “not got us excited”, says Ndlovu
THUNGELA Resources said extending an existing coal freight contract with Transnet was good business even as the state-owned rail and ports firm opened the door to a new supply…
Thungela coal exports back at full throttle as rail recovers
SOUTH African coal miner Thungela Resources forecast another strong export performance from the country this year amid “encouraging” signs from Transnet, the state-owned rail and…
Thungela unveils Moses Madondo as CEO-designate
THUNGELA Resources today announced its founding CEO July Ndlovu would step down from the company this year as he had reached retirement age. He will be replaced by Moses Madondo…
Green shoots for South Africa’s coal export line?
COAL deliveries to Richards Bay are 6% higher year-on-year but the iron ore line is yet to record significant improvements, said RMB Morgan Stanley. The bank said were South…
Thungela has best leverage to coal price, Transnet improvements
ONE way of playing the global geopolitical distress is to exploit coal, the reputation of which has been slightly rehabilitated of late. Commenting at the Joburg Indaba, Caroline…
Thungela excludes Anglo coal mines in M&A pursuit
THUNGELA Resources said it was still on the hunt for offshore metallurgical and thermal coal assets but Anglo American’s Australian assets weren’t on its list. “It’s a bit too…
Thungela teaches the Aussies how to improve their mine safety performance
IN a surprising development South African coal producer Thungela Resources is teaching the Australian mining industry a thing or two about mine safety judging by the safety…
Thungela shareholders hang in there for better results despite coal’s blackened reputation
Thungela Resources cut its interim dividend for the six months to end June by 80% yet the share price was up 2.5% on the JSE this morning despite the decline in international…
Coal’s evergreen allure hard for investors to ignore
The pendulum has swung back to coal. Look no further than Glencore which is reconsidering retaining its coal production instead of demerging and separately listing the business,…
Thungela targets 50% increase from Ensham coal mine
THUNGELA Resources is hoping to increase production from a mine it bought in Australia last year by as much as a quarter. If it achieves this stretch target, the JSE-listed coal…
SA’s coal exporters are now buying spare parts for Transnet’s locomotives to boost railages
The Richards Bay Coal Terminal (RBCT) is buying spare parts to maintain Transnet’s locomotives as part of the coal industry co-operation effort to improve coal exports. This was…