Thungela Faces Legal Action Over Alleged Shareholder Rights Breaches
Thungela Resources, a thermal coal producer, is facing litigation from minority shareholders, including Just Share, Aeon Investment Management, and Fossil Free South Africa. The shareholders have filed a case in the Gauteng High Court, alleging that Thungela has breached shareholder rights by refusing to circulate and table shareholder-proposed resolutions related to climate change. These resolutions, proposed in 2023, 2024, and 2025, were intended to be nonbinding and complied with the Companies Act and Thungela's memorandum of incorporation. However, Thungela's board has consistently refused to allow these resolutions to be considered at shareholder meetings, claiming that the applicants have no legal right to propose them. The shareholders argue that this refusal violates their Constitutional rights to freedom of expression and association, as well as their rights under the Companies Act. 
