After the Australian government rejected an inquiry into the country's iron ore industry, Andrew Forrest, non-executive chairman of local miner Fortescue, reiterated that he will continue to call for scrutiny of major miners, namely Rio Tinto and BHP Billiton, according to media reports.
Mr. Forrest said that the Australian government has given into the lobbying of the multinational iron ore producers.
Earlier this week, Australian iron ore miner BHP Billiton CEO Andrew Mackenzie said an inquiry would send the wrong signal to international customers about the country's commitment to free trade.
The inquiry in question was originally proposed by Australian independent senator Nick Xenophon regarding the impact of declining iron ore prices on the nation's revenues and budget deficit.