Anglo American posts $1.5 bn loss after huge charge | Bangkok Post: news

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Anglo American posts $1.5 bn loss after huge charge

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Miner Anglo American on Friday posted an annual net loss of $1.49 billion (1.11 billion euros) after taking a $4.6-billion hit on the value of its Minas-Rio iron-ore project in Brazil and platinum assets. 

A truck is loaded with copper ore at Anglo American's Los Bronces mine on the outskirts of Santiago, Chile, on December 27, 2011.

The loss after taxation compared with a net profit of $6.17 billion in 2011, Anglo said in a results statement.

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