Browsing: Thungela

Anglo American, the mining behemoth took the decision on May 7th, 2021 to divest from its South African thermal coal and demerge its assets in this space into a separately listed entity that it chose to name Thungela Resources. The name “Thungela” comes from the Zulu word meaning to “ignite” or to “set alight” or to “set on fire”. This new mining outfit was formally demerged and listed on the Johannesburg and London Stock Exchanges on June 7th, 2021 and it presented its first set of interim financial results as a standalone entity in July. Its results exceeded expectations from the market which was quick to subscribe to its shares and doubled its share price over the course of the month. The company’s name seems very instructive given this background. It has literally set light to its shares by delivering a very impeccable set of numbers