February 9, 2018 / 1:45 PM / in 11 days

Kumba Iron Ore reverses Sishen mine-linked impairment charge

JOHANNESBURG (Reuters) - South Africa’s Kumba Iron Ore said on Friday it reversed a pre-tax 4.8 billion rand ($396.05 million) impairment on its Sishen mine in the full-year to end December 2017, following improved operational performance at the mine.

The unit of Anglo American said the impairment reversal, net of tax and non-controlling interest, is 2.6 billion rand and will be included in its basic earnings but excluded from headline earnings.

($1 = 12.1196 rand)

Reporting by Nqobile Dludla; editing by Jason Neely

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