Kumba, the world’s fourth largest iron ore producer, said in its production and sales report for the period that the earnings were likely to be between R2.884billion and R3.033bn.
The company said basic earnings for the six months would be between R2.851bn and R2.998bn, a decrease of between 35 and 38percent. Headline earnings per share were expected to be between R9.02 and R9.49.
The group also revised its full-year total sales guidance to between 42 and 44million tons. The company attributed the reduction in forecasted tonnage to rail performance problems experienced in the six months ended June 30.
Kumba said it had trimmed the full-year production forecast “to more closely align to rail supply levels, as part of the integrated sales and operations planning drive and focus on optimal efficiency”.