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Not all of the surprises were nasty this year, not if you were one of Australia's lucky iron ore billionaires.
Mind you, Fortescue founder, Andrew 'Twiggy' Forrest, would tell you that luck had nothing to do with the rapid turnaround in the fortunes of his miner - which just last year was on its death bed, if you believed the whispers from industry insiders.
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It has survived in spectacular fashion - and added $5 billion to Forrest's wealth this year as rising iron ore prices, and falling debt levels put the company in an unusually safe financial position after more than its share of near-death experiences.
His stake in Fortescue is currently worth more than $6.5 billion, which has sent him rocketing back up the ranks of our most wealthy billionaires.
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The fact that Gina Rinehart's mining group, Hancock Prospecting, is privately owned makes it difficult to assess her exact fortune. But she - along with property developer Harry Triguboff - are the only billionaire standing between Forrest and top spot on the rich list.
Not that this represents the peak of his wealth - not in paper terms, at least. In 2008, the value of Forrest's shares hit $13 billion. This was the same year Fortescue actually dug up its first ounce of the steel-making ore.
Andrew Forrest meeting Pope Francis in February. Photo: Leigh Henningham
When the iron ore market plunged to its nadir last year, Forrest and Rinehart had lost almost $25 billion of wealth between them - on paper at least.
The resurrection of the iron ore billionaires is in stark contrast to the declining fortunes of the businesses which were meant to boom on the back of China's newly emerging middle class.