Kumba expects HEPS down between 39% and 43%, to between 1,268c and 1,361c. Production fell 3% and sales volumes declined 1%, as heavy rainfall and planned Transnet maintenance affected operations. Earnings were pressured by an 11% stronger rand, slightly weaker iron ore prices and the absence of a once off Transnet payment received last year. EBITDA is expected between R10.43bn and R11.19bn, down between 30% and 35%
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