The fact that this will create less demand for our main resource...

The fact that this will create less demand for our main resource is a scary thought. Considering the only thing that's kept Australia in a better economical state than other parts of the world is the tax revenue the Australian government has received from iron ore sales. It will be a massive loss of tax revenue and I wonder I'd they have noticed...
another thing to note is recently the CEO of bhp noted that they wanted to provide shareholders with maximum value. Well most CEO's will have the same ideas but how can he do that when they stand to lose iron ore sales from China and reduce profits? If I were a holder of bhp or Rio I would be a bit worried.

Then again, the Chinese are looking after their future, maybe they have done so much ground work with the African governments that an Aussie miner may not be able to get the support to develop it.