Johannesburg - Kumba Iron Ore [JSE:KIO], a unit of global
mining company Anglo American [JSE:AGL], said on Wednesday its full-year profit
likely fell by about a third, hit by lower export prices and an illegal strike
at its main mine.
Kumba said in a statement it expects to report headline
earnings per share of between R36.30 and R38.80 for the year to end-December,
compared with R53.13 a year earlier.
Kumba said the decrease is due to a decline in export iron
ore prices and lower production following an illegal strike at its Sishen Mine.
Kumba and other South African mining companies were caught
by a wave of labour unrest that started in the platinum industry last year and
swept across Africa's biggest economy.
Anglo Platinum [JSE:AMS], another local unit of Anglo
American, warned this week it would fall to a full-year loss because of the
Kumba said it will release its results around February 12.
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