Anglo American takes US$4b charge over Brazilian iron ore mine

Anglo American will take a US$4 billion write-down on its Minas Rio iron ore operation in Brazil after delays and cost overruns forced the company to increase expenditure on the project.

The company also said yesterday it expected capital expenditure for the project to increase to US$8.8 billion.

via Business feed http://www.scmp.com/business/commodities/article/1138933/anglo-american-takes-us4b-charge-over-brazilian-iron-ore-mine