[miningmx.com] – ANGLO American would book a write-down on its coal and iron ore deosits of between $3bn to $4bn on a post-tax basis when it reported its interim figures scheduled for July 24, said Reuters.
“It underlines the fact that those assets are probably not going to make any money,” Ben Davis, an analyst at investment bank Liberum, told Reuters.
The charge comes on top of a $3.9bn write-down Anglo took for similar reasons in February, when it also posted a 25% drop in underlying operating profit for 2014, said Reuters.
Anglo added that production from De Beers, which was a mainstay of its results in its 2014 financial year, would be 6% down for the half-year ended June 30.
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