Push to flood iron-ore market crushes smaller suppliers

A faster-than-expected increase in iron-ore production by the world's biggest miners in Australia and Brazil this year is pushing less efficient smaller suppliers of the steel-making raw material to the edge. From Europe to Australia to the Middle East, smaller miners in the once-lucrative iron-ore business are cutting output or shutting altogether despite rising demand, while a few megaminers are taking a bigger share of the $130-billion seaborne iron-ore market.