The problem with the african Fe on the whole is that most of is itabirite or 40% fe and needs signifcant work to upgrade. Also in most cases the African ore is alot further away from the coast than the Pilbara Fe ... Isn't Oz also closer by Sea to China / Russia that West Arica?
So a lot of these things will offset the Low labour costs...ie High grade, deposits close to Sea, close to China (main importer) by ship and potentially automation.
Also remeber "Boris" (AKA MMK) has a large stake in FMG also so they are defo interested in being a part of the Pilbara scene.
wakey wakey people its monday morning, page-14
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