Vale (VALE) says it will take a $4.2B writedown on its nickel and aluminum investments, part of...

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (VALE) says it will take a $4.2B writedown on its nickel and aluminum investments, part of a series of charges that will hit the miner's Q4 earnings. Most of the charges are related to its troubled Onca Puma nickel mine in Brazil, which was shuttered in June. The total charge before taxes for Onca Puma will total $2.85B. VALE -2% AH.