Latest news with #R285m
TimesLIVE
08-08-2025
- Business
- TimesLIVE
Thungela flags profit plunge on weak thermal coal prices
Thungela Resources expects its half-year profit to fall by as much as 85%, mainly due to lower thermal coal prices as global economic uncertainty affects energy demand, the coal miner said on Friday. Thungela said it expects headline earnings per share (HEPS) to be between R1.40-R2.10 in the six months to June 30, compared to R9.52 during the same period last year. Thungela is South Africa's biggest thermal coal exporter and along with peers it has been forced to cap output to match limited freight rail and port capacity provided by Transnet. Thermal coal demand has also slowed in key markets China and India after increases in domestic coal production. Average coal prices through Richards Bay were 14% lower during the six months compared to last year as tariff-induced instability in global trade affects major economies and energy demand. The average export price in Australia, where Thungela owns the Ensham mine, was 11% lower compared to the same period last year, it said. Thungela said it also incurred R285m in restructuring costs related to its Goedehoop and Isibonelo operations which reach the end of their lives this year. The company will release its half-year results on August 18.
The Citizen
16-05-2025
- Business
- The Citizen
Ekurhuleni seeks contractors for development initiative
The City of Ekurhuleni is calling on contractors to apply for its contractor development programme (CDP). This is an initiative designed to empower local contractors with the skills and support needed to grow their businesses and strengthen the region's construction sector. Applications are now open to contractors registered with the Construction Industry Development Board (CIDB) in grades one to five. ALSO READ: City of Ekurhuleni commits R285m to tackle pothole crisis This competitive programme will select only 50 contractors to participate in one of the following three targeted development streams: • Emerging contractor development programme (CIDB Grades 1–2) • Contractor development incubator programme (CIDB Grades 3–4) • Contractor improvement programme (CIDB Grade 5) Successful applicants will gain hands-on experience by working on the city's infrastructure projects, receive specialised business and technical training, and benefit from ongoing mentorship provided by industry experts. Interested contractors can visit the City of Ekurhuleni's website and navigate to the CDP page for detailed information, eligibility requirements, and application forms. Completed applications, along with all required supporting documents, must be submitted via email to The closing date for applications is May 31. For more information or enquiries, contact 011 999 9747 / 4408. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
