Asset Managers Touting ESG Enjoy a Turbo-Charged Coal Boom
- GFANZ members BlackRock, abrdn among top Thungela investors
- Thungela seals first deal since spinoff, aiding coal expansion
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As one of the world’s top-performing coal companies embarks on an expansion plan, investors who have pledged to target a low-carbon future are helping finance its growth.
Since being spun off by Anglo American Plc in mid-2021, Thungela Resources Ltd. has soared close to 900%, which is more than most other major coal stocks. Now, Chief Executive Officer July Ndlovu is promising to ratchet up production through the end of the next decade at least, as the company’s first acquisition since its solo listing gives it a controlling interest in the Ensham thermal coal mine in Australia.