Headline earnings fell 37 per cent at Anglo American subsidiary Kumba Iron Ore

12th Feb 2013 08:12

FTSE 100-listed metal mining company Anglo American's subsidiary Kumba Iron Ore has reported headline earnings of 1,499m dollars, 37 per cent less than was recorded a year earlier.The company's contribution to Anglo American's underlying earnings contracted 31% to $1,018m.Meanwhie, the value recorded for exploration quadrupled year-on-year to $16m from $4m previously.Kumba Iron Ore is a supplier of iron ore to the globl steel industry. It is the only hematite ore producer in the world to wholly beneficate its product.Anglo American's share price was down 0.48% to 1,962.00p at 08:33 on Tuesday morning.MF