Otmane El Rhazi : Anglo to take up to $4bn impairment hit

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.

Mining giant Anglo American was preparing to take a $3-billion to $4-billion write-down for the first half of the year amid continued persistent price weakness and volatility of the bulk commodities, particularly iron-ore and metallurgical coal. The impairment followed a mid-year review of Anglo’s near- and longer-term commodity price assumptions, the company said in its half-year report on Thursday.