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CITIC warns of Sino Iron impairment

Chinese conglomerate CITIC (HK:267) has warned it will have to write down its troubled Sino Iron project in Western Australia by up to US$1 billion.

The Sino Iron magnetite mine in WA is under threat of suspension

The Sino Iron magnetite mine in WA is under threat of suspension

The Hong Kong-listed company said the estimated impairment of US$800 million to US$1 billion was the result of a review of carrying values. CITIC is due to report its full-year results before the end...

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