wisco is the choice, page-5

"China will increase its iron ore production to 1.5 billion tons by 2015, up from 1.1 billion tons in 2010, in a bid to reduce its reliance on imports, Wu said."

There must be price negotiations taking place, these sort of statements always come out of china to try and strengthen their hand when negotiating IO prices with the majors.
The impression that I have gained from many good posts on this thread is that China's Iron ore is very low grade and they don't have the ability to increase production.