Lower export prices hurt Kumba Iron Ore's H1 earnings

Reuters

JOHANNESBURG (Reuters) - South Africa's Kumba Iron Ore expects first-half headline earnings to decline by as much as 19 percent to between 19.50 and 21.50 rand per share compared to a year ago, hurt by a fall in export prices. Kumba shares turned negative on the news, losing 0.1 percent at 1034GMT. The South African mining company reported 24.13 rand per share in headline earnings per share for its first half of 2013. Earnings for the six months to end June 2014 will be released on July 22. (Reporting by Helen Nyambura-Mwaura; Editing by Stella Mapenzauswa)