Thungela Resources guides positive interim earnings on one-off gain
Thungela Resources Ltd expects earnings to surge as coal prices rise amid Middle East conflict, with a large one-off gain also set to lift performance.
The Rosebank-based coal miner on Friday guided for earnings per share of between ZAR10.75 and ZAR11.10 for the six months that ended June 30, from ZAR1.93 a year earlier, driven in part by a non-cash profit of ZAR1.0 billion from the sale of the Kleinkopje mining right.
Thungela agreed to dispose of the Kleinkopje mining right at the Khwezela Colliery at the end of 2025, and reported late in June this year it had concluded the sale of Kleinkopje.
Headline EPS, which excludes this gain, is likely to rise to between ZAR4.60 and ZAR4.95, from ZAR1.92.
The coal producer said it expects the ongoing volatile market conditions to drive its earnings higher.
The company said late in June energy markets remained volatile as prices continued to respond to shifting sentiment around the protracted war between the US and Iran, and the disruptions to shipping through the Strait of Hormuz.
The Newcastle Benchmark coal price on average rose to USD124.79 per tonne for the five months that ended May 31, up from USD105.37 in 2025 and up from USD102.51 in the first half last year.
The Richards Bay Benchmark coal price climbed on average to USD104.25 per tonne for the five months to May 31, compared to USD89.53 in 2025 and USD91.78 in the first six months last year.
Thungela plans to release its interim financial results on August 17.
Shares in the miner were up 0.5% to ZAR97.56 in Johannesburg on Friday afternoon, while they were up 1.8% to 452.94 pence in London.
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