I've just done a quick recheck of the figures, BHP's number given was "in excess of 300mpta" not 400mpta. I might have remembered the RIO number wrong too then. nevertheless it's clear everyone and their dogs are piling into iron ore - angloamerican looking at 100mpta iron ore pa, FMG at 45mpta going to 100mpta etc. Looking at the market size for iron ore, even with good growth it looks like there's too much capacity IMHO, which can only mean one thing for the iron ore price.
