- Anglo American (OTCQX:AAUKF, OTCPK:AAUKY) will make a writedown of between $3B-$4B on the value of some of its iron ore and coal assets, signaling the toll from a continued slump in commodity prices.
- "The first six months of 2015 have seen significant further weakness and ongoing volatility in the prices of the bulk commodities, particularly iron ore and metallurgical coal," the company said.
- The impairments relate to Anglo's flagship Minas-Rio iron ore project in Brazil as well as some Australian coal mines.