By Michael Susin


Thungela Resources Ltd. shares rose on Friday after the company said that it expects earnings and headline earnings per share to rise in 2021 as a result of higher revenue driven by an increase in coal prices.

The South African coal miner, a spinoff of Anglo American PLC, said EPS for the year is expected to be between 60.32 and 61.27 rand ($3.98-$4.04), an increase of between ZAR65.63 and ZAR66.58 a share compared with the prior year.

Headline EPS is expected to be between ZAR65.81 and ZAR66.76, an increase of between ZAR71.12 and ZAR72.07.

The company said the upgrade was driven by a strong price environment for thermal coal in 2021.

Shares at 0933 GMT were up 12.2 South African cents, or 11.4%, at 119.5 South African cents.


Write to Michael Susin at michael.susin@wsj.com


(END) Dow Jones Newswires

02-11-22 0455ET