Kazakhmys swings to 2.3 billion US dollars loss after taking massive write-down on ENRC holding

摘要

KAZAKHMYS plc swung to a net loss of US$2.27 billion in 2012, compared with a US$930 million profit a year earlier, as it wrote-down just under half of the value of its 26% stake in Eurasian Natural Resources Corporation plc (ENRC). Kazakhstan's biggest copper miner also cut the final dividend as it reported a 35% fall in earnings (before one-off charges) to US$1.9 billion due to lower metal prices and weaker sales volumes.