Rio Tinto’s $14B Writedown Likely to Lead Other Mining Writedowns

Reuters reported that Rio Tinto’s announcement of $14B worth of impairments could foreshadow other mining companies’ writedowns, including BHP and Vale’s underperforming nickel projects.

As quoted in the market news:

Vale has said it will take a fourth-quarter $2.85 billion pre-tax writedown on its Brazilian nickel project Onca Puma, and investors are asking about the future of its $7 billion Goro nickel project in New Caledonia.

Click here to read the full Reuters report.

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equitas logo1Equitas Resources (TSXV:EQT; FSE:T6UN) is one of the first junior resource companies in the last 20 years to hold such a large, consolidated land package in the Voisey’s Bay district. With a first-class, experienced team of professionals skilled in raising capital and managing successful exploration projects Equitas Resources has a tight share structure on early stage of nickel focused exploration. Learn more about this world class deposit.

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