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South African coal miner Thungela rues ‘missed opportunity’ as European demand surges

South African coal miner Thungela rues ‘missed opportunity’ as European demand surges

NELSON BANYA SOUTH AFRICA'S Thungela Resources Ltd said it had seen increased demand for thermal coal from Europe as the war in Ukraine dents supply, but rail logistics constraints in South Africa continue to limit its capacity to export. Higher coal prices and better cost management helped Thungela post its first full-year profit, of 6.9 billion rand ($461 million), following its demerger from Anglo American Plc last year. Thungela's headline earnings per share (HEPS) - the main profit measure in South Africa - were 66.57 rand for the year ended December 31, up from a loss per share of 5.31 rand the…
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