Someone needs to go broke in the Australian iron ore industry, says analyst

The mining empires of Andrew Forrest and Gina Rinehart are under pressure from a global supply glut and falling demand from China, says one leading analyst

The Australian iron ore industry is poised for a huge shake-up as the global glut worsens and margins continue to tighten.

The nation's biggest iron ore miners, Rio Tinto and BHP Billiton, are still making money and expanding production, but questions remain about the viability of their heavily indebted rivals Fortescue Metals Group and Gina Rinehart's Roy Hill project.