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Miner Fresnillo to take writedown charge of $17 mln in 2014

Reuters - UK Focus

Feb 13 (Reuters) - Fresnillo Plc (Other OTC: FNLPF - news) said it would take a writedown charge of about $17 million in 2014 relating to some of its property at its Soledad and Dipolos gold-mining operations in Mexico.

The company, which has been battered by a fall in precious metal prices over the last two years, added that full-year gross profit would be hurt by about $20 million as its cost of sales increased.

The company said it was writing down the assets as they were not economically viable. (Reporting By Mamidipudi Soumithri in Bengaluru; Editing by Anand Basu)