{"id":12609,"date":"2012-07-20T13:05:37","date_gmt":"2012-07-20T11:05:37","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/update-1-kumba-h1-earnings-dragged-down-by-iron-ore-prices\/"},"modified":"2012-07-20T13:05:37","modified_gmt":"2012-07-20T11:05:37","slug":"update-1-kumba-h1-earnings-dragged-down-by-iron-ore-prices","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-kumba-h1-earnings-dragged-down-by-iron-ore-prices\/","title":{"rendered":"UPDATE 1-Kumba H1 earnings dragged down by iron ore prices"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds details)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 20<\/span> (Reuters) &#8211; South Africa&#8217;s Kumba Iron<br \/>\nOre reported an 18 percent drop in first-half earnings<br \/>\ndue to a sharp fall in prices, the latest unit of global miner<br \/>\nAnglo American to report or signal shrinking profits as<br \/>\ncommodities cool off.<\/p>\n<p><span><\/span><\/p>\n<p>Africa&#8217;s largest producer of the steel making ingredient<br \/>\nstill declared an interim dividend of 19.20 rand a share as its<br \/>\nchief executive Chris Griffith prepares to depart to take the<br \/>\nhelm of Anglo&#8217;s troubled platinum group Anglo American Platinum<br \/>\n.<\/p>\n<p><span><\/span><\/p>\n<p>Kumba&#8217;s production was up 13 percent in the six months to<br \/>\nend June to 21.6 million tonnes, with export sales up by the<br \/>\nsame amount to 20.7 million tonnes.<\/p>\n<p><span><\/span><\/p>\n<p>Kumba said headline earnings per share for the six months to<br \/>\nthe end of June fell to 23.07 compared with 28.23 rand in the<br \/>\nsame period last year. This is the main profit measure in South<br \/>\nAfrica and excludes some one-time items.<\/p>\n<p><span><\/span><\/p>\n<p>Kumba shares are up 13.40 percent this year to date,<br \/>\ncompared with a 5.11 percent increase in the JSE Top-40<br \/>\nblue-chip index.<\/p>\n<p><span><\/span><\/p>\n<p>Anglo American was forced to reshuffle management across its<br \/>\nSouth African operations on Thursday following the abrupt<br \/>\ndeparture of the miner&#8217;s platinum boss, a day after a fresh<br \/>\nprofit warning from the world&#8217;s largest producer of the metal.<\/p>\n<p><span><\/span><\/p>\n<p>(Reporting by Sherilee Lakmidas; Editing by Ed Stoddard)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds details) JOHANNESBURG, July 20 (Reuters) &#8211; South Africa&#8217;s Kumba Iron Ore reported an 18 percent drop in first-half earnings due to a sharp fall in prices, the latest unit of global miner Anglo American to report or signal shrinking profits as commodities cool off. Africa&#8217;s largest producer of the steel making ingredient still declared [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12609","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12609"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12609\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}