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Kumba expects FY earnings lift following rally in iron-ore prices

Kumba expects FY earnings lift following rally in iron-ore prices

Photo by Duane Daws

17th January 2014

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Kumba Iron Ore, which is currently finalising its results for the 12 months ended December 31, 2013, expects headline earnings and basic earnings for the period to be between R14.9-billion and R15.7-billion.

Headline earnings a share (Heps) and earnings a share (Eps) were expected to be between R46.60 and R49.

Headline earnings and basic earnings reported for the 12 months ended December 31, 2012, were both R12.2-billion, while Heps and Eps for the comparative period were R37.97 and R38.02 respectively. 

The increase in earnings was largely attributable to an increase in export iron-ore prices and a weaker rand:dollar exchange rate, which was partially offset by lower production from Kumba’s Sishen mine, in the Northern Cape.

Kumba will release its results on February 11.

Edited by Tracy Klückow
Creamer Media Contributing Editor

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