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The latest announcement is out from Thungela Resources Limited ( (GB:TGA) ).
Thungela Resources Limited has announced the sale of its Goedehoop North Mining Area assets and liabilities to GHN Resources Proprietary Limited and Bisichi PLC. This transaction is part of Thungela’s strategy to optimize its South African portfolio amid the closure of certain operations due to depleted reserves. The sale, valued at up to ZAR700 million, includes significant infrastructure and rehabilitation liabilities, allowing Thungela to strengthen its balance sheet and focus on long-life resource operations. The transaction is subject to regulatory approvals and includes provisions for an Environmental Trust to manage rehabilitation obligations.
More about Thungela Resources Limited
Thungela Resources Limited is a company incorporated in South Africa, primarily involved in the mining industry. The company focuses on the extraction and processing of thermal coal, with operations that include mechanized mining methods and coal beneficiation plants. Thungela is listed on the Johannesburg Stock Exchange (JSE) and the London Stock Exchange (LSE).
Average Trading Volume: 238,978
Technical Sentiment Signal: Sell
Current Market Cap: £502.9M
For a thorough assessment of TGA stock, go to TipRanks’ Stock Analysis page.