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Anglo American hit by write-downs

Anglo American recorded a multi-billion dollar loss in the first six months of the year as commodity price weakness led to a substantial write-down of its Minas-Rio iron ore operation in Brazil.

The company swung to a US$3 billion loss in the first half, compared with a $1.5 billion profit in the same period a year earlier.

Some $3.5 billion of impairments, the bulk ($2.