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Thungela Resources, the coal miner spun off from Anglo American, expects to deliver a first-half profit equivalent to almost a quarter of its R39.6bn market value as it cashes in on surging energy prices.

Headline earnings per share for the six months to end-June are expected to rise to R66.85-R67.45 from R3.05 previously, the miner said in a trading update on Monday. This means headline earnings of as much as R9bn, from R227m in the prior year, an almost forty-fold rise...

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