Vale expects to book $1.2bn Q4 fertiliser impairment

Diversified Brazilian mining major Vale expects to book a $1.2-billion after-tax impairment charge on its fertiliser business for the fourth quarter. The company, which expects to report fourth-quarter and full-year results on February 23, said in regulatory filing on Monday that the charge arises from the December agreement to sell certain assets in its fertiliser division to Mosaic Co for $2.5-billion.