From The Australian:
As iron ore prices threaten to slip below $US50 a tonne and Andrew “Twiggy” Forrest calls for production restraint, his Fortescue Metals Group and BHP Billiton have each applied for state government approval to boost iron ore output.
In separate applications to the West Australian Environmental Protection Authority in recent weeks, the pair have put in applications to build new Pilbara region iron ore mines.
The applications are to replace mines that will shortly run out, but they contain requests for permission to mine a combined 50 million tonnes of extra iron ore a year…
Not much capping going on there.
