Following a meeting with BHP’s China boss, Beijing issued a statement saying it believed that “BHP and other iron ore suppliers should avoid abusing dominant market positions."
The country’s legislators approved this week a ruling that declares the region surrounding the mine a national park, affecting Glencore's ability to expand it.
Iron ore is down 34% this year over China fears, soft demand and surging supply. The copper market is equally exposed, but has so far defied fundamentals.