Rio Tinto’s $14B Writedown Likely to Lead Other Mining Writedowns

Reuters reported that Rio Tinto’s announcement of $14B worth of impairments could foreshadow other mining companies’ writedowns, including BHP and Vale’s underperforming nickel projects.

As quoted in the market news:

Vale has said it will take a fourth-quarter $2.85 billion pre-tax writedown on its Brazilian nickel project Onca Puma, and investors are asking about the future of its $7 billion Goro nickel project in New Caledonia.

Click here to read the full Reuters report.