South Africa-based Kumba Iron Ore has announced that it expects its full-year earnings for 2013 to increase by 20 percent compared to the previous year, supported by an increase in export iron ore prices and a weaker exchange rate, partially offset by lower production from Sishen mine during the period. In 2012, Kumba reported earnings of ZAR 12.2 billion ($1.2 billion).
Earlier this week, South Africa's constitutional court ruled that only Kumba Iron Ore can apply for the remaining 21.4 percent mining right at Sishen iron ore mine.
Source:
http://www.steelorbis.com/steel-news/latest-news/kumba-iron-ore-expects-20-percent-increase-in-2013-earnings-802083.htm
