Fortescue's Forrest Calls Again for Iron Ore Investigation

Australian Mining reported that Andrew Forrest, chairman of Fortescue Metals Group Ltd. (ASX:FMG), is calling once again for an examination of iron ore oversupply. Forrest made the call at the Global Iron Ore & Steel Conference this week, saying he is looking for “an investigation into the major miners ‘supply side strategy.'”
As quoted in the market news:

Last year a war of words erupted between BHP, Rio Tinto, the MCA and FMG over the issue of ongoing iron ore oversupply.
Forrest claimed the major miners made a deliberate play to keep prices down by flooding the market and making statements about the future increases in production.
Blaming the majors for the bearish sentiment which befell the iron ore industry, he even went as far as to urge the public to “stand up” and ask if the multi-national miners have a social licence to operate.
“I believe it is in the national interest to fully investigate why certain industry players repeatedly made forward looking statements about oversupplying the market and how those statements contributed to the collapse in the price of iron ore,” Forrest said
FMG was also behind an online campaign , Our Iron Ore,  against ‘multinational companies’.
It urged people to sign a petition in order to ensure a “sustainable future for our important mining industry”.

Click here to read the full Australian Mining report.