business ๐ฅ Coal profits surge amid Iran war chaos
Global energy supplies are facing disruption due to the US-Israel conflict with Iran. South Africa's Thungela Resources doubled its half-year profits because more countries are buying thermal coal. This surge happened following Iran closing the Strait of Hormuz, impacting Asian energy needs. Many Asian nations, like Japan and South Korea, have delayed green energy transitions to rely on coal. Prices for coal are high, and Thungela's production at Ensham rose by 38% during the conflict. ๐