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.