South Africa-based Kumba Iron Ore, owned by the global mining company Anglo American Plc, has announced that its H1 profit rose by 38 percent year on year due to increased sales volumes, higher iron ore export prices and output.
Kumba has reported that its half-year net profit was ZAR 1.58 billion ($223 million), while its revenue for the period rose by 35 percent from last year to ZAR 5.43 billion ($710 million) - boosted by an annual 11 percent increase in the average iron ore prices of export volumes, as well as by the weakening in the average exchange rate of the rand during the period in question.