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Mining giants’ massive write-downs reflect global market challenges
So far this reporting season, major miners have revealed more than $US13 billion (nearly $A20 billion) in write-downs and impairments as global markets across 2023, and weak demand send prices and profits lower and upset projections for the rest of this year and 2025. It’s no secret that nickel is the most troubled business, iron ore the least. The major write-downs have come by BHP, Glencore, Anglo American, and precious metals producer Sibanye-Stillwater who between them account for more than $US9 billion of the losses. Of the major mining countries, around US8 billion of the write-downs are directed as assets in ... (full story)
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- Posted: Feb 25, 2024 8:41pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 355
