https://www.miningweekly.com

PIC lifts shareholding in Thungela

11th April 2022

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

The Public Investment Corporation (PIC) has increased its shareholding in coal miner Thungela Resources from 8.033% to 9.925% on April 8.

This follows what Thungela CEO July Ndlovu earlier in April described as a “comeback for coal” as European demand rises.

As European utilities are seeking to mitigate shortages of natural gas from Russia and curb fuel imports from the country overall, coal has become the fuel of choice amid the Ukraine war.

Ndlovu told stakeholders during the Coalsafe conference that Europe’s coal burn rate was currently the highest it has been in 30 years.

Thungela’s share price has increased more than 90% since Russia invaded Ukraine on February 24. Simultaneously, the thermal coal price has increased about 56% since the beginning of the year.

The company produces thermal coal from seven mining operations in South Africa.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.04 0.982s - 110pq - 2rq
Subscribe Now