Anglo American's Kumba Reports Lower 1st Half Ebitda as Iron-Ore Production, Prices Fell
26 Luglio 2022 - 8:56AM
Dow Jones News
By Jaime Llinares Taboada
Kumba Iron Ore Ltd. on Tuesday reported lower Ebitda for the
first half of the year, as its iron-ore production and realized
prices declined.
The South African mining company, which is 69.71% owned by Anglo
American PLC, achieved earnings before interest, taxes,
depreciation and amortization of 23.1 billion rand ($1.38 billion)
in the six months ended June 30. This was down from ZAR44.4 billion
a year earlier.
Attributable free cash flow dropped to ZAR9.7 billion from
ZAR31.5 billion.
Kumba said its production fell 13% in the period due to adverse
weather, equipment and logistics availability challenges, and a
safety reset initiative which impacted operations. In addition,
realized iron-ore prices fell to $136 per wet metric ton from $216
a year earlier.
The company declared an interim dividend of ZAR28.70, down from
ZAR72.70 a year earlier.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
July 26, 2022 02:41 ET (06:41 GMT)
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