I’m going to throw it out, Brazil probably realise that it’s more advantageous having an elevated price at circa $140 USD, than spending billions to slowly add back tonnage. Ie 40mtpa then a further 60mtpa to get to 100mtpa extra:
Ie they get higher revenue with 300mtpa at $140 per tonne. Than 400mtpa at $80 per tonne.
BHP@$50, page-2
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