Anglo American falls to 2012 loss
Mining group Anglo American has fallen to a pre-tax loss in 2012, hit by lower commodity prices and a write-down on a key iron ore project.
It made a pre-tax loss of $239m (£154m) compared with a $10.8bn profit in 2011.
Last month, Anglo said it would write off $4bn (£2.5bn) after a review of its Minas-Rio project in Brazil.
Jeff Largey, Head of Metals and Mining Research at Macquarie Bank said the write off was expected but Anglo paid too much for it in 2008.
15 Feb 2013
- From the section Business