Commodities

Iron ore highs for 5 years - Vale CFO

Guilherme Cavalcanti, chief financial officer of Vale, the world's second largest mining group and biggest producer of iron ore, says the price of the commodity will remain above $150 a tonne for at least the next five years. He tells Jack Farchy, commodities correspondent, that demand from China, a lack of skilled workers, and issues over environmental permits are driving the high cost.