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Rio Tinto’s $14B Writedown Likely to Lead Other Mining Writedowns
Jan. 21, 2013 03:07PM PST
Base Metals Investing 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.
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.