Growing confidence in thermal coal? Thungela snaps up Ensham
In early February, Thungela and its co-investors (Audley and Mayfair) agreed to buy Idemitsu’s 85% stake in Ensham Resources for A$340 million (US$229 million). The transaction signals Thungela’ s first step out of South Africa as it looks to establish itself as a global thermal coal producer. For Idemitsu, looking to reduce its carbon footprint, the sale represents a responsible exit to a listed group.