Via FMG:
Amusing stuff. Desperate even. Given Chinese imports will be falling by then and Vale will still be pouring out its S11D expansion, this is a clear break by FMG from the tacit agreement by the majors to not expand supply.
The irony is that 30mt is material for iron ore prices meaning that it will weigh on prices for lower quality ore all the more. FMG is robbing Peter to pay Paul. Share are down below $4.50 again and no wonder.