Otmane El Rhazi : CITIC warns of massive write-down at Sino

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.



Chinese major CITIC has warned shareholders of a write-down of between $1.4-billion and $1.8-billion on its Sino iron-ore project, in Western Australia, for the full 2014. The miner blamed the falling iron-ore price for the massive impairment charge.