Iron ore incumbents have a faster path to volume growth than Simandou

To put it another way, the big incumbents will collectively add a Simandou to their export volumes by the time Simandou - under a best-case scenario - starts sending its first shipments to customers for trialling. That should put Simandou into some context; as a competitor, it's akin to the incremental growth ambitions the big miners can deliver with a tweak here and some low-cost investment there. It poses virtually no competition to the big miners' existing businesses. Unlikely to ship The Simandou proponents have spoken of a first stage shipping 60 million to 80 million tonnes a year before…