GLENCORE, the global mining and trading company, has slowed its iron projects to a crawl, taken large impairments against them and informally put them up for sale.During a media call at the release of annual results earlier this month, Glencore CEO Ivan Glasenberg said the projects would not be developed at existing iron-ore prices, which have slumped to below $60 a tonne, from an average $135 a tonne in 2013 and $97 last year.The write-down meant its undeveloped iron-ore projects in Republic of Congo (Brazzaville) and Mauritania were on Glencore’s books at low values, and gave it the option to realise value from them in the future, Mr Glasenberg said."However, you know my feelings on greenfield projects so I don’t know if it’s going to happen in my life," he said."If anyone wants to give us an offer for them they can come talk to us."Glencore last year impaired its iron-ore assets in Mauritania and Congo by $431m, valuing the assets at $50m.Sphere Minerals, a Sydney-listed company,...
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