Kumba reported HEPS down 41% to 1,324c for the six months ended 30 June 2026, below Bloomberg estimates of 1,443c. Revenue declined -11% to R30.88bn as weaker iron ore prices, lower sales volumes and higher costs weighed on earnings, although export prices remained above the benchmark. Production decreased -3% to 17.69m tonnes, while the average Sishen unit cost increased 4% to R727.18 per dry metric tonne and Kolomela unit cost rose 22% to R659.06 per dry metric tonne. The interim dividend declined -52% to 790c per share.
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