Thungela posts full-year loss on weaker coal prices
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South African coal miner Thungela Resources reported a full-year loss on Monday after weaker thermal coal prices weighed on earnings. The company posted a headline loss per share of 6.47 rand for the year ended December 31, compared with headline earnings per share of 25.59 rand a year earlier.
Revenue fell 17% to 29.6 billion rand in 2025, dragged down by lower benchmark coal prices and a stronger South African rand against the U.S. dollar. Thungela said the international thermal coal market remained depressed through 2025, mainly because of weak demand in China and India.
The company said the two Asian coal consumers had expanded domestic production while also advancing alternative energy sources. Thungela’s average realised export price for South African coal was 20% lower than a year earlier, while prices for its Australian output fell 17%.
Thungela declared a final dividend of 2 rand per share, bringing the total payout for 2025 to 4 rand per share. The results show how softer coal pricing and currency strength continued to squeeze earnings across the sector.
