Anglo American announces US$4 bil. write-off following Brazil mine delay

The mining giant, which has been hit in recent months by slumping platinum output owing to fatal strike action by workers in South Africa, said that it would “record an impairment charge of US$4 billion” in its 2012 earnings.

“We are clearly disappointed that the diversity of challenges that our Minas-Rio project has faced has contributed to a significant increase in capital expenditure, leading to the impairment we have recorded,” chief executive Cynthia Carroll said in a statement.

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