Media guy turned mining and energy aspirant Kerry Stokes is nearing a productive end to his decade-long play at owning real operating iron ore mines in the Pilbara.

But to get across the finish line, the billionaire has agreed to cede control of his ambitions by selling his 52.7 per cent of Iron Ore Holdings into a takeover offer by iron ore’s thriving junior, BC Iron . BC Iron is a company that thought small and won. Stokes will now become its biggest shareholder, owning just more than 23 per cent.