I recommend you read the press articles which states clearly...

I recommend you read the press articles which states clearly that iron ore prices below $US 80 tonne will most likely result in mine closures or care and maintenance. Most of the smaller Atlas mines have been very profitable but I doubt they would operate at prices below $80 - I predict US $60 a tonne or less will be the norm within a few months.

FMG will struggle -BHP and RIO will operate at any price. New aspirants can forget trying to establish an iron ore mine. Several juniors have abandoned iron ore production and a whole heap of new aspirants can turn out the lights at $80 tonne.
As for Guinea do you really believe anyone trying to beneficiate 40% Fe is going to get funded. Even I don't hold out any hope in the market that is evolving and we have high grade in Guinea. RIO will be okay but there is a hell of a lot of difference mining 65 % + Fe itabirite a premium sinter fines product -even 68% Fe at Mt Nimba - and trying to kick start an iron ore mine with 40% canga at Simandou North. Them's the breaks - find some very high grade and maybe -just maybe its a different ball game. Or switch to gold -a hell of a lot of gold in Guinea even in the streams hosting the iron ore.