MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

  • Ted August 2013
Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Glencore to take $5-7B hit on Xstrata assets.

CharlesCharles
edited August 2013 in Off-Topic
Be careful what you wish for?

Glencore Xstrata (GLCNF.PK) will reportedly write down $5-7B in assets that were part of Xstrata prior to its merger with Glencore. Nickel assets are expected to be the hardest hit, as prices for the metal sit near four-year lows. The impairment would be the latest in a series of major writedowns in the mining industry as the leading players suffer from falling prices. Glencore Xstrata is set to detail the impairment in its half-yearly earnings tomorrow.

From Seeking Alpha this morning.

Comments

Sign In or Register to comment.