The world’s second largest iron ore miner is targeting a 18% output increase this year, adding to a mounting global glut that has driven down the commodity price.
The situation may soon change, as authorities have began talks with the country’s top miners, signalling the possibility of a compromise over the country’s new tax regime.
Price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of financing will make of 2015 another challenging year for the sector.