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JOHANNESBURG - Thungela Resources Limited, a South African mining company, has completed the acquisition of the remaining 15% interest in the Ensham business from Bowen Investment (Australia) Proprietary Limited. The transaction, which was finalized for a total purchase consideration of AUD48 million, was made through Thungela’s wholly-owned subsidiary Thungela Resources Australia Proprietary Limited.
The completion of the deal was announced on Monday and follows the initial disclosure made on December 23, 2024. The acquisition encompasses the Ensham Joint Venture, Ensham Coal Sales Proprietary Limited, the Nogoa Pastoral Joint Venture, and Nogoa Pastoral Proprietary Limited. The effective date of the transaction is today, February 28, 2025.
Thungela secured all necessary regulatory approvals, including those from the Foreign Investment Review Board and the relevant Minister under the Mineral and Energy Resources Act, to proceed with the acquisition. This strategic move is aimed at consolidating Thungela’s holdings and strengthening its position in the industry.
The company has stated that the completion of this transaction does not fall under a categorizable transaction according to Section 9 of the JSE Limited Listings Requirements. Therefore, the announcement has been made voluntarily, purely for informational purposes.
The acquisition is part of Thungela’s broader strategy to expand its footprint in the mining sector and is now considered inside information as defined under the Market Abuse Regulation (EU) No. 596/2014, as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019. With the public release of this announcement, the information is no longer considered confidential.
This news is based on a press release statement from Thungela Resources Limited.
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