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Increased iron ore prices, export volumes boost Kumba’s 2011 operating profits
February 09, 2012 - 10:40 GMT
Location:
London
KEYWORDS:
iron ore
,
Anglo America
,
Kumba Iron Ore
An increase in iron ore prices and export volumes contributed to a 27% increase in 2011 operating profits for Anglo American subsidiary Kumba Iron Ore, the company said on Thursday February 9.
Kumba’s operating profits stood at R32 billion ($4.2 billion) for the year to December 31, 2011, up from R25.1 billion a year earlier, the company said in a statement.
Its revenues also increased by 28% to R45.8 billion in 2011, from R35.8 billion in 2010.
These results were boosted by increased iron ore sales volumes and prices, Kumba said.
Its total sales volumes increased by 1% to 43.6 million...
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Euromoney Institutional Investor PLC.
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