Australia's South32 on Thursday reported a first-half loss of $1.7 billion, hurt by big writedowns for its manganese and energy coal businesses.
South32 is the dominant global producer of manganese, and has interests in alumina, silver, nickel and coking coal - industrial mainstays hard hit in the wake of China's economic pullback.
It took a $916 million impairment charge on its Australian manganese business, and a $518 million charge on its South African energy coal unit, underscoring the deterioration in industrial demand for imported raw materials in China.
Spun off last year by BHP Billiton, South32 is the largest producer of manganese ore and a top producer of manganese alloy, used in making aluminium products such as drink cans.
The non-cash charges were flagged by the company on Feb. 4, along with plans to cut hundreds of jobs.