Rio Tinto expects non-cash impairment charge of $14B Rio Tinto said it expects to recognize a non-cash impairment charge of approximately $14B in its 2012 full year results. The impairments include an amount of $3B relating to Rio Tinto Coal Mozambique, as well as reductions in the carrying values of Rio Tinto's aluminium assets in the range of $10B-11B. The company also expects to report a number of smaller asset write-downs in the order of $500M. The final figures will be included in Rio Tinto's full year results on February 14.
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Rio Tinto raises FY14 thermal coal production outlook to 17.5M tonnes The company's previous thermal coal production guidance was 16.7M tons. This follows a change in the production profile to produce additional higher margin thermal coal from a processing plant by-product stream at Hail Creek. As a result of this change and lower than expected production during the ramp up at Kestrel, Australian hard coking coal production has decreased to 7.4M tonnes, previously 8.2M tonnes. Semi-soft coking coal production guidance remains unchanged at 3M tonnes.Rio Tinto’s share of uranium production across Rössing and ERA in 2014 is expected to be between 4.3M-5.1M pounds. This follows operational changes at Rössing in response to current market conditions. Progression to full processing capacity at ERA is anticipated in Q3. Reference Link