February 6, 2017 / 4:54 PM / a year ago

Brazil's Vale expects $1.2 bln fertilizer impairment in 4th qtr

BRASILIA, Feb 6 (Reuters) - Brazilian mining company Vale SA said on Monday it expects to book a $1.2 billion impairment charge for its fertilizer division when it reports fourth quarter results on Feb. 23.

In an SEC filing, the company said the impairment was the result of the valuation associated with the sale of part of its fertilizer division to Mosaic Co for $2.5 billion, agreed in December.

Vale also said it expected to book impairments in its base metals division, due to lower prices, on its assets in Canada and New Caledonia.

The company did not give a figure, but said it expected the writedown to be “significantly less” than the $4.9 billion impairment recorded on its Canadian and New Caledonia base metal assets in 2015. (Reporting by Stephen Eisenhammer; Editing by Tom Brown)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below