Mining group Anglo American swings to net loss on US$1.6 billion impairment

A fire at Australia's Grosvenor mine has suspended production for the foreseeable future. (Image: Google Maps)

Fri, 26 Jul 2024

By Christian Moess LaursenAnglo American swung to a net loss in the first half of the year after booking an impairment of US$1.6 billion (NZ$2.7b) related to its crop-nutrients project in the UK, a result of the mining major’s group-wide reorganisation.The diversified mining group said Thursday that it booked a net loss of US$672 million in the half-year from a profit of US$1.26b a year ago while underlying earnings before interest, taxes, depreciation and amortisation (ebitda) – its preferred metric – fell 3% to US$5b.Revenue...

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