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SA’s largest iron producer Kumba Iron expects its headline earnings to halve in the first half of 2022 compared with a year ago due to lower iron-ore prices due to record steel prices in many parts of the world in 2021 partially offset by a weaker rand/US dollar exchange rate.

Kumba earns a premium on its iron ore, which is of higher quality, but now foresees a 48% to 53% year-on-year drop in headline earnings to between R10.87m and R12.03m...

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