ENRC Swings to Annual Net Loss After Incurring $1.54B Impairment Charge

Marketwatch reported that Eurasian Natural Resources Corp Plc announced on Wednesday that the company has swung to an annual net loss after it incurred a $1.54B non-cash impairment charge related to its platinum assets as well as other metal assets.

As quoted in the market news:

ENRC swung to a net loss of $804 million for the year ending Dec 31, 2012 compared to a net profit of $1.97 billion the year before, prompting the company to say it wouldn’t pay a final dividend in 2012.

Click here to read the full Marketwatch report.