Fortescue's Andrew Forrest calls for iron ore production cap, page-4

This is something that is often lost when it comes to a bulk commodity like IO.
RIO and BHP do not own the ore. It is owned by the Australian people who have given them a license to mine and export it.

Be very careful not to bite the hand that feeds you. The Australian people would not like to Nationalise their own resource, but be warned, there are some that would petition the Gov't to legislate to cap the production if it is deemed in the nations interest!!

RIO and BHP need to play their hand very skilfully I think. If this becomes a political football, they may start to lose credibility very quickly within the community.

It would be in their interest to self regulate, or face a possible backlash!!