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Iron ore giants to boost supply despite surplus

Mine expansions in Brazil, Australia more than offset China closures; 2015 supply to rise to 75m tonnes

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Rio Tinto Group and BHP Billiton Ltd in Australia and Brazil's Vale SA invested billions to raise low-cost output even as prices fell to a five-year low, seeking to boost sales and force less competitive rivals to close.

Singapore

GLOBAL iron ore supplies are set to expand further as the world's biggest producers press on with capacity expansions, raising shipments of the steel-making raw material into a market facing a record surplus and sinking prices.

Net supplies will increase about 60 million

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