S&P warns of imminent downgrade for miners

Sao Paulo - Standard & Poor's warned on Monday it may soon downgrade several miners as it lowered its iron ore price estimates for the next couple of years.

S&P said in a statement it was placing on watch negative the credit ratings of Vale SA, Rio Tinto, BHP Billiton [JSE:BIL], Anglo American [JSE:AGL] CAP SA, Exxaro Resources [JSE:EXX], Fortescue Metals Group , and Eurasian Resources Group.

S&P said it expects to make its rating decisions over the next two to three weeks.