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The world's output of iron ore, for example, has roughly tripled since 2000.
He said the company was on track to more than double its annual output of iron ore in the next decade.
Mr. Agnelli said in October that the company planned to invest $11 billion in 2008 in projects to increase output of iron ore and other metals.
They do expect rivals with higher costs to rein in their output of iron ore and other minerals, however.To some extent, that is already happening.
Likewise, Australian output of iron ore is expected to rise by half in the next five years, with coal up by one-fifth.
The answer lies in Mao's misguided ambition to overtake Britain in the output of iron, steel, and other products in just fifteen years, which triggered a political mania of coercion and deprivation, as people struggled to fulfill unachievable goals.
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Between 1788 and 1839 the output of pig iron in Britain rose from 68,000 to 1,347,000 tons.
A spokesman for Cleveland Cliffs said the output of the iron properties probably would be sold to Japanese steel mills, which already have contracted for major tonnages of ore from other Australian iron develop ments.
Largely as a result of Nikita's and Akinfy's efforts, the Demidov family, by the end of the 18th century, controlled vast estates and enterprises and produced about 40 percent of the country's output of cast iron.
The population almost trebled in the first forty years of the century and industrial outputs soured, with the output of pig iron increasing from 34,000 to 277,000 tons between 1796 and 1830.
Though it accounts for only about one-eighth of global output, China uses up between a third and half of the world's annual production of iron ore, aluminium, lead and other non-precious metals (see chart 5).
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