We developed an iterative method for solving the hot-plasma dispersion relation and computing power deposition during multispecies minority Ion Cyclotron Resonance Frequency (ICRF) heating experiments. Here the distribution function of resonating ions becomes strongly anisotropic and significantly hotter than that of non-resonating particles. Therefore we have considered thermal and overlapping cyclotron harmonics effects for the interpretation of the measurements. We compute wave propagation and absorption for plasmas containing minority anisotropic fast ions using a complex perpendicular wavenumber in cylindrical geometry. In the minority heating scheme, we find that most of the ICRF power is coupled to minority ions and collisionless bulk ion heating is negligible when Tibulk ≤ Te. However, if Tibulk ≥ Te, then ICRF power couples also to the majority ions. We have successfully applied this method to the interpretation of measurements of hydrogen isotope ion distribution functions during multispecies minority ICRF heating of deuterium plasmas in JET.