four corners, page-9

With minerals in short supply, Australians can take a monopolistic position as regards the rate of return to them.

Commodity producers, unless they have fully cornered a market, can not pass on increased costs. Australian iron ore is identical to Brazilian ore.

IF Australia had a monopoly on any mineral, existing producers would have already maxed out the ability of customers to pay.

Your argument is internally flawed and contradicts reality.