There are two Iron companies that looks very promising.If it were not for their stategic partnerships they would have bellied up by now like Labrodor Iron Mine Limited (LIM.TO), which is no more listed. Also you got to consider that the price per ton of ore could still have an impact on the bottom line should it go further down but for now the prices seems to have stabilized.
The strategic partnerships:
New Millenium Iron - Tata Steel (India)
Alderon Iron Ore Corp - Hebei Iron & Steel (China) - Glencore
In the after thought of the crash of the price of iron ore, I think the management teams in their respective companies have made a wise move with those partnerships. imo.