ENRC unveils 'significant' write-down - Telegraph Kazakh miner Eurasian Natural Resources Corp (ENRC) warned yesterday that it would take some "significant" write downs on its operations when it issues full-year results next month. ENRC is the latest mining group to announce it is slashing the value of some of its assets after executives across the sector went on a purchasing spree that was derailed by rising costs and slumping commodity prices. However, the size of the write down was not revealed. "The market will be notified of the final amounts, which are likely to be significant, ahead of the group's preliminary results," ENRC said. The miner is scheduled to publish its 2012 figures on March 20. The impairments relate to its alumina business in Kazakhstan, some copper operations in Africa and an equity stake in quoted South African platinum companies, mainly Northam Platinum. The miner also said that its tax rate for 2012 would be around 45pc, above previous guidance of 37pc to 39pc. Other miners that have been forced into significant impairments include Rio Tinto, at which a $14.4bn (£9.5bn) charge resulted in the departure of Tom Albanese as chief executive. Anglo American also lost its top executive, Cynthia Carrol, following a $4.6bn write down of the value of a Brazilian iron ore project. The recent spate of write downs prompted Ivan Glasenberg, the billionaire head of commodity trader Glencore, to criticise the track record of mining executives as "catastrophic" earlier this week. ENRC shares fell 11.6 to 344.6p.