VJ67
I like this section, below... They are all lifting production. Why? They are either all stupid as some in the media are writing, or they know what they are doing.
"Rio Tinto, BHP Billiton, Gina Rinehart’s Roy Hill Holdings and a host of smaller miners have all flagged significant production increases in coming years. Fortescue itself will lift its production capacity to 155 million tonnes by the end of the year.
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But Mr Power said Fortescue’s increase in supply of 50 million tonnes this year would push higher-cost producers, including those in China, out of the game and ‘‘keep the market in supply-demand balance’’.
Read more: http://www.theage.com.au/business/mining-and-resources/fortescue-remains-bullish-on-iron-ore-prices-20130418-2i1t4.html#ixzz2QkGzLbSh
production report, page-21
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