Otmane El Rhazi : Rio and BHP ‘oversupply’ to crush Australian iron-ore market – Forrest

Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.

Mining magnate Andrew Forrest launched a scathing attack on majors Rio Tinto and BHP Billiton, claiming that the miners’ decision to flood the market with iron-ore could cost the Australian economy between A$50-billion and A$60-billion a year. In an interview with the ABC’s The Business, Forrest claimed that the multi-national companies were acting irresponsibly by continuing to vocalise their decisions to continue expanding iron-ore production in the current market.