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Anglo Coal Spinoff Weighs Acquisitions After Record Profit

  • Thungela pays hefty first half dividend amid coal price rally
  • Miner using trucks to haul supplies amid rail disruptions
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Thungela Resources Ltd, South Africa’s largest exporter of power-station coal, is searching for assets to buy after first-half profit surged on record-high fuel prices.

The Johannesburg coal producer shrugged off shipping disruptions to declare a hefty 60 rand per share dividend after posting record earnings in the six months through June. Chief Executive Officer July Ndlovu is now seeking more coal producing assets outside South Africa, where it’s being forced to curb exports due to limited rail capacity.