Anglo American Latest To Take Mining Write-Down

Law360, New York (January 29, 2013, 1:48 PM EST) -- Anglo American PLC said Tuesday it would book a $4 billion impairment charge on a Brazilian iron ore mine, becoming the latest global miner to take write-downs as poorly timed acquisitions, ballooning costs and regulatory delays continue to dog big projects.

Rivals like Rio Tinto PLC, BHP Billiton Ltd. and Brazil's Vale SA have all been forced to write down the value of assets in recent months. Logistical snafus, rising costs of labor and equipment, and volatile prices across many metals have wreaked havoc on balance...
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