Tag: Yahoo Finance

UPDATE 1-Vale sees $1.6 billion impairment charge for Q4 in New Caledonia write down

Brazilian miner Vale SA , the world's top nickel producer, will write down its New Caledonia mine and incur a non-cash impairment charge of about $1.6 billion in the fourth quarter, the company said on Tuesday in a securities filing. Vale said its annual assets review of its base metals and coal business is still underway and further impairments charges that would also impact fiscal year 2019 cannot be ruled out. The $3 billion value of the New Caledonia operation will be reduced by $1.6 billion, Vale said....