Annual global iron ore output may reach 2.7 billion mt by 2015

Chinese analysts, considering the capacity expansion plans of miners worldwide in the 2011-15 period, have predicted that in 2012 global iron ore production will reach 2.28 billion mt, increasing further to 2.7 billion mt in 2015, as reported by Chinese media sources.
 
Liu Jianming, steel industry analyst with Chinese securities company Huachuang Securities, has commented that the global iron ore industry is still under the control of the three mining giants - BHP Billiton, Vale and Rio Tinto. He said that capacity expansion plans will not necessarily result in excess supply. Mr. Liu stated that the Chinese steel industry will not witness any remarkable changes in terms of the iron ore supply side in the coming five years.