<p class="img-caption"><a alt="05HWG7-E" class="mwMoTrg" href="http://asia.nikkei.com/Company/05HWG7-E" target="_self">Citic</a> expects to post an impairment loss of up to $1 billion on its iron ore project in Western Australia for the year through December 2016, the Chinese state-owned conglomerate said Wednesday. The company is scheduled to release its full-year earnings by the end of March.</p>