Scammers try to sell fake shares in London-listed coal miner Thungela

Investors have been warned to watch out for fraudsters trying to sell fake shares in a London-listed miner.

Scammers are attempting to sell shares in coal mining firm Thungela Resources as part of a fraudulent fundraising scheme, the company said today.

The South African business, which is listed on the London Stock Exchange, said it had become aware of a third-party attempting to coax investors into a supposed fundraising involving redeemable preference shares. Thungela denied it was involved in any such scheme.

The company, which was recently sold by mining giant Anglo American, warned investors not to engage and report any possible contact with the scammers to regulators.

“The purported offer amounts to share fraud and has been reported by the Company to the Johannesburg Stock Exchange, the South African Financial Sector Conduct Authority and to the United Kingdom Financial Conduct Authority for investigation,” the company said.

Thungela said shareholders and investors could visit its website for legitimate documents the firm has issued and find information about share fraud and other investment scams.

The UK’s FCA recently said it was taking “assertive action” to tackle fraud aimed at retail investors. Between April and September last year, it received 16,400 enquiries about possible scams – up nearly a third on the same period in 2020.