How cynical of Rio Tinto, two days after announcing record iron ore production and shipments, to hit investors with such bad news. The miner yesterday said it would make more huge writedowns – this time totalling about $14bn after tax – in its 2012 results. That Rio is impairing a further $10bn-$11bn on its pre-crisis Alcan acquisition is hardly a surprise given aluminium’s fortunes. True, in November, Rio warned it could cut asset values in its full-year results. But its $3bn impairment on a coal asset in Mozambique acquired only in 2011 takes some beating. It is right for the chief executive to go.
力拓(Rio Tinto)宣佈鐵礦石產量和出貨量創紀錄纔不過兩天，緊接著就拋出這樣的壞訊息來打擊投資者，真是諷刺。這家礦商昨日宣佈，2012年財報將再次做出大規模減記，以稅後計算，這次減記總額爲140億美元。考慮到鋁的行情，力拓對金融危機爆發前收購的加拿大鋁業(Alcan)進一步減記100-110億美元並不稀奇。畢竟去年11月力拓就發過預警，有可能在全年業績中進一步削減資產價值。但2011年才收購的莫三比克煤炭資產也要減記30億美元就說不過去了。執行長下臺是對的。