Anglo American's Kumba unit to report FY underlying earnings of $438m

Anglo American said its Kumba Iron Ore operation would report underlying earnings of $438m for the year ended 31 December 2016 compared with $238m a year earlier.

The operation was put up for sale last year as part of a restructuring. Headline earnings almost doubled to $607m as the iron ore price recovered from lows last year.

Underlying earnings is profit attributable to equity shareholders before special items and remeasurements, and is presented after net finance costs, income tax and non-controlling interests.

Anglo American will report results for the year ended 31 December 2016 on 21 February 2017.