The top three producers – BHP Billiton, Rio Tinto and Vale – have flooded the market with ore to drive other high-cost rivals out of business.
Austock's Gerrard said Rio is better-positioned to take advantage of an expected long-term boom in iron ore demand driven by rising steel output in rapidly developing China and India.
The growth of Jubilee Mines, an Australian producer of nickel ore, should be driven by increasing demand, particularly from China for steel manufacturing, Mr. Cragg said.
China, the world's fastest-growing major economy, has been concerned about a bid by BHP Billiton for Rio Tinto, a combination that would corner a large segment of the iron ore market and potentially drive up prices.
The Port of Port Hedland reopened to shipping on 18 March, about 52 hours after its closure, with little or no damage reported, though the downtime drove iron ore prices up for a time, and reduced exports of the raw material by 4.7% compared to the previous month.
Tony Abbott has backed an inquiry into possible "predatory" behaviour by iron ore miners, which has driven down the price of Australia's single biggest export earner.
The ore is mined several hours' drive into the desert from Port Hedland.
Before the detentions, China's steel industry association had repeatedly attacked Rio Tinto and other foreign iron ore suppliers, saying they had driven up the price of iron ore and negotiated unfairly.
I drove to Scape Ore Bridge, where it's said Lizard Man gets in and out of the swamp.
China re-exports a lot of what it imports, turning hard drives into iPods and iron ore into steel.
