Browsing: Thungela Resources

• Thungela Resources Limited has been busy with mergers and acquisitions to grow its geographic footprint and diversify from its pure play coal business.
• The JSE listed miner recently made the news when it agreed to purchase an Australian coal miner called Ensham.
• The acquisition of Ensham is an all cash transaction wherein Thungela is taking a 65% interest. 

The Johannesburg Stock Exchange (JSE) listed pure play coal mining company which was created from the demerger of Anglo American’s coal assets has been on a mergers and acquisitions spree. Thungela announced earlier this month that it had acquired an Australian coal mine. This move has been read by market analysts as a risk mitigation move by diversifying away from South Africa. It also bought out its Black Empowerment partners in a US$ 60 million transaction.

Green Bonds: A possible solution to the Zimbabwe power crisis

On the M&A front, Thungela bought …

The ban on Russian coal imports will further strain coal supplies and force European consumers to look elsewhere at a time when there is already concern about dwindling supplies of Russian gas and a severe energy crunch in the winter.

According to an article by Africa News published May 26, 2022, as Europe takes action to reduce imports of Russian gas, the continent’s leaders have been looking to Africa as an alternative energy supplier. New deals have been signed with Algeria, Angola, Congo, Nigeria, and others are thought to be on the way.

In a related article by AFP dated April 21, 2022, Italy penned a deal with Angola to ramp up gas supplies from the southern African country as it urgently scrambles to break away from Russian gas over the Ukraine war.

“Today we have reached another important agreement with Angola to increase gas supplies,” Foreign Minister Luigi Di …