Otmane El Rhazi : Cliffs Natural blames Rio, BHP, Vale for weak iron-ore prices

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.

Cliffs Natural Resources, which is struggling to cope with an over-supplied iron-ore market, blamed industry leaders BHP Billiton, Rio Tinto and Vale for weak prices for the commodity. The prices are depressed "not by the fact that these guys produce a lot of iron ore, but by the fact that they are saying that they will produce a lot more," CEO Lourenco Goncalves said on a call with analysts on Wednesday.