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KIO - Kumba - Trading Statement For The Twelve Months Ended 31 December 2008

Release Date: 20/01/2009 14:00
Code(s): KIO
Wrap Text

KIO - Kumba - Trading Statement For The Twelve Months Ended 31 December 2008 Kumba Iron Ore Limited A member of the Anglo American plc group (Incorporated in the Republic of South Africa) Registration number: 2005/015852/06 Share code: KIO & ISIN: ZAE000085346 ("Kumba" or "the Company") TRADING STATEMENT FOR THE TWELVE MONTHS ENDED 31 DECEMBER 2008 Shareholders are advised that Kumba will report its financial results for the twelve months ended 31 December 2008 ("the period") on 16 February 2009. Headline earnings and basic earnings for the period, after accounting for the minority interest in Sishen Iron Ore Company (Proprietary) Limited ("SIOC"), are expected to be between R6,800 million and R7,500 million, with headline earnings per share ("HEPS") and earnings per share ("EPS") being between 2,150 cents and 2,370 cents. The restated financial results for the twelve months ended 31 December 2007, issued on 23 July 2008, contained restated financial information for the twelve months ended 31 December 2007 ("the comparative period"). After accounting for the minority interest in SIOC, headline earnings and basic earnings reported for the comparative period were R3,143 million and R3,181 million respectively while HEPS and EPS reported for the comparative period were 1,000 cents and 1,011 cents respectively. The trading results of Kumba for the year ended 31 December 2008 have been buoyed by strong iron prices and the softening of the exchange rate of the Rand to the US Dollar. However, the performance for the year was adversely affected in late 2008 by the unprecedented volatility in the global economy. Production volumes in the fourth quarter were marginally reduced as Sishen Mine increased the quality of its production in order to secure export volumes. In addition certain export sales volumes were lower than planned due to lower demand and limited volumes of lower quality production were sold at below contractual prices. This trading statement is issued in compliance with the Listings Requirements of the JSE Limited. The financial information on which this trading statement is based has not been reviewed and reported on by the Company`s external auditors. 20 January 2009 Pretoria Sponsor to Kumba RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 20/01/2009 14:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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