Thungela Resources Faces Profit Dip Amid Coal Price Drop

Thungela Resources, a South African thermal coal exporter, reported a 29% decline in their 2024 profit, impacted by reduced coal prices. The company's profits dropped from 4.97 billion rand to 3.544 billion rand. The exchange rate is noted as $1 equaling 18.1943 rand.

South African thermal coal exporter Thungela Resources announced a 29% decrease in its 2024 profits, attributing the downturn to falling coal prices.

The company's profit fell to 3.544 billion rand, equivalent to approximately $194.79 million, compared to 4.97 billion rand in the previous year.

This financial adjustment comes amid an exchange rate reading of $1 to 18.1943 rand.

(With inputs from agencies.)