"Along with the right to mine,they have obligations to do their best to get the best price for the Iron Ore."
They do. They plan, mine and blend their ore to optimise the grade, to ensure they get the best price for it from their customers.
It's an internationally traded commodity. We are price takers not price setters.
To take your erroneous line of thinking to it's conclusion, we would have to set export caps to control the amount of ore leaving our shores. No doubt that would make the socialists happy, however it would also make many other countries around the world that produce iron ore very happy as well.
In very broad terms, total worldwide iron ore production in the world last year was around 3,000 million tonnes.
Australia exported around 500 million tonnes. So around 1/6 - 1/5 of the worldwide total.
We're a big player, no doubt, but we're not the only producer. Some people here seem to think we and Brazil are the only players.
