LONDON (dpa-AFX) - Anglo American plc (AAUKY.PK, AAL.L) said it will report underlying earnings in respect of Kumba Iron Ore Limited of $143 million for the six months ended 30 June 2016, which takes into account certain adjustments. This compares to Kumba Iron Ore's contribution of $192 million in the year-ago period.
The company noted that for the six months ended 30 June 2016, Kumba Iron Ore reported headline earnings of 3.01 billion rands, or $198 million, down from $213 million in the same period last year.
Anglo American will report results for the six months ended 30 June 2016 on 28 July 2016.
In a restructuring of its management team in South Africa, Anglo American said it has appointed Themba Mkhwanazi as CEO of Kumba Iron Ore Limited, following Norman Mbazima's decision to step down after four years to focus on his role as Deputy Chairman of Anglo American South Africa.
Norman Mbazima will remain a member of the Group Management Committee and will have oversight of the processes to restructure and divest Anglo American's non-core assets in South Africa, including its interests in the Kumba and thermal coal businesses.
Further, the company named July Ndlovu, Executive Head of Processing Operations at Anglo American Platinum since 2007, as CEO of Anglo American's Coal business in South Africa, to replace Themba Mkhwanazi.
Copyright RTT News/dpa-AFX