Thungela Resources Limited (GB:TGA) has released an update.
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Thungela Resources Limited reports a successful diversification into Australia with Ensham’s production exceeding expectations and advances in their Dubai marketing operations. Despite macroeconomic and geopolitical challenges leading to lower demand and benchmark coal prices, the company anticipates support for the Richards Bay Benchmark coal price due to market dynamics. Thungela’s financial performance reflects a decrease in earnings per share due to softer coal prices and a varied sales mix, while continued support for Transnet Freight Rail aims to improve South African rail performance for future operations.
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