The miner's share price has shot up on the back of sky-high coal prices and its keen to buy even more coal assets.
A strong set of annual results and a positive outlook for fossil fuel markets this year have affirmed Thungela Resources' belief that coal has been written off too early and that it will remain in demand for many years to come.
The cash-flush coal producer was spun out of Anglo American in June last year and the Thungela share price plunged on the first day of trading as investors without mandates or the inclination to hold coal assets, sold out of the share. Those shareholders invested in the coal company have since been handsomely rewarded as the share price shot up from R21 a share at listing - to R160 currently. Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
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