I work for a certain large iron ore producer, in processing and...

I work for a certain large iron ore producer, in processing and production. We are currently producing at roughly 40 million tons above our target for total production per annum out of the Pilbara. Our competitors are doing roughly the same. We have been cutting jobs and costs where possible in preparation for the price drop due to the oversupply. This message has been hammered home continually by management during our quarterly presentations for the last year.