Arrium Announces $320 Million in Write-downs

Australian Mining reported Arrium (ASX:ARI) has announced further write-downs to cope with the falling iron ore prices.

As quoted in the market news,

The company said it expects to record a further asset impairment of $320 million on top of the $1.3 billion impairment it announced in January.

Arrium also announced it was expecting earnings before interest, tax, depreciation and amortisation for the current financial year of between $335m and $350m.

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