Glencore's convenient greenfield gripe

Ivan Glasenberg's call for big miners to stop oversupplying the market via greenfields makes sense for institutional investment, particularly now that Glencore owns Xstrata.

The release of the Xstrata and Glencore results this week help put Glencore chief Ivan Glasenberg’s recent accusation that ‘’the big guys really screwed up’’ during the commodities price boom into perspective.

In making those comments last month, Glasenberg was blaming BHP Billiton, Rio Tinto, Anglo American and his own merger partner Xstrata for bringing too much new production into the market, leading to over-supply and tumbling prices.

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