On the back of lower export selling prices across its product portfolio, a declining share portfolio value and a subsequent impairment, mining holding company Assore expects headline earnings to decline by up to 44.6% to between R548-million and R672-million for the six months ended December 31. Average prices for iron-ore declined 38% from the first six months of the prior year to $51/t in the period under review, partially offset by a weaker exchange rate.
