Despite lowering guidance due to rail network issues, Thungela’s (TGA.LN) shares rose due to hefty dividend.
As reported by Bloomberg:
“The coal spinoff from Anglo American Plc lowered its export guidance this year even as coal prices soared to records, because state-owned freight company Transnet SOC Ltd. is unable to move sufficient volumes by rail. South Africa’s railroad network is increasingly being hit by cable theft and a shortage of locomotives, forcing Thungela to cut production.”
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