Anglo American Platinum Profit Drops 86% on Writedowns

Why Anglo American Platinum Is Putting Projects on Hold

Anglo American Platinum Ltd., the world’s biggest producer of the metal, said profit fell 86 percent as it wrote down mines and operations by 14 billion rand ($876 million).

Headline earnings, which exclude one-time items, declined to 107 million rand from 786 million rand a year earlier, the Johannesburg-based company said in a statement Monday. 

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