SA’s largest iron producer Kumba Iron expects its headline earnings to halve in the first half of 2022 compared with a year ago due to lower iron-ore prices due to record steel prices in many parts of the world in 2021 partially offset by a weaker rand/US dollar exchange rate.
Kumba earns a premium on its iron ore, which is of higher quality, but now foresees a 48% to 53% year-on-year drop in headline earnings to between R10.87m and R12.03m...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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