Rio Tinto’s Walsh Slams Rival’s Call for Iron Ore Cartel
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Rio Tinto Group, the world’s second-largest iron ore exporter, labeled a rival’s call for the biggest producers to cap output as nonsense.
Rio Chief Executive Officer Sam Walsh said that Fortescue Metals Group Ltd. Chairman Andrew Forrest’s call Tuesday for major competitors to limit output to boost prices was a “hare-brained scheme.”