Eldorado Gold’s Q3 profit falls on iron-ore inventory write-down

TSX- and NYSE-listed Eldorado Gold this week reported a 45% decline in third-quarter net profit, as it booked an inventory write-down at the Vila Nova iron-ore mine, in northern Brazil. The Vancouver-based company, which has operations in Brazil, China, Greece, Turkey and Romania, noted a net profit of $19.8-million, or $0.03 a share, for the three months ended September 30, down 46% from $36.4-million, or $0.05 a share, in the comparable quarter last year.