Glencore takes aim at iron ore giants

Original article by Amanda Saunders
The Australian Financial Review – Page: 28 : 5-Mar-15

Glencore will reduce its coal production in Australia by 15 million tonnes in 2015. CEO Ivan Glasenberg says the decision to reduce output by around 15 per cent was made because the group does not want to be seen to have forced coal prices lower due to oversupply. Glasenberg has previously criticised BHP Billiton and Rio Tinto for expanding their iron ore production at a time prices have fallen sharply

CORPORATES
GLENCORE PLC, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA

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