Anglo American May Impair Assets as Iron-Ore Output Soars
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Anglo American Plc plans impairments because of low commodity prices even after the company with operations from Australia to Chile raised annual iron-ore production to a four-year high.
Anglo produced 48.9 million metric tons of the steelmaking ingredient in 2014, a 4.7 percent increase from the previous year, the London-based company said Wednesday. This includes 688,000 tons from its Brazilian Minas-Rio project, which shipped its first consignment in October, and a 14 percent increase in production from its Kumba unit in South Africa, it said.