Thungela Resources Limited

TGA · Main Market · Energy · mcap £794m · 682.0p 1 open situation →

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20252026 Goedehoop North disposal PUBLIC INVESTMENT CORPORATION SOC LIMITED selling down

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Disposal of a part (break-up)

Goedehoop North disposal

Sale pending; completion expected in H2 2026

Thungela agreed the sale of the winding-down Goedehoop North assets at the end of 2025, with rehabilitation liabilities moving to the buyer on completion. The June 2026 pre-close said the sale was still being progressed. The 17 August 2026 interims put completion in the second half of 2026 and tie it to full cash-collateralisation of South African environmental liabilities by year end.

Next milestone: Completion expected in the second half of 2026 17 Aug 2026 ↗
Liabilities: Rehabilitation liabilities transfer to the purchaser on completion 17 Aug 2026 ↗
Rationale: Remaining resources retain value in use but no longer give optimal long-term economic benefit
Goedehoop output: H1 2026 export saleable production forecast 0.2Mt vs 1.4Mt in H1 2025 17 Aug 2026 ↗
Goal: South African environmental liabilities fully cash-collateralised by year end 17 Aug 2026 ↗

Next: Completion of the sale expected in the second half

17 Aug 2026 Sale pending; completion expected in H2 2026
7 Aug 2026 Sale recognised; R1.0bn non-cash profit quantified
30 Jun 2026 Sale process concluded; earnings impact to be quantified
23 Mar 2026 Agreement concluded; completion expected 2026

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Closed · 1

OverhangPUBLIC INVESTMENT CORPORATION SOC LIMITED selling down selling stopped · 25 Feb 2025 – 10 Oct 2025 −16%

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