February 9, 2018 / 1:45 PM / 4 months ago

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.

Haul trucks are seen at Kumba Iron Ore, the world's largest iron ore mines in Khathu, Northern Cape Province, file. REUTERS/Siphiwe Sibeko

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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