MCA CEO Brendon Pearson said Ironorefacts.com.au was a collection of facts “debunking the myths that have been peddled in recent weeks about the industry”

“The website provides factual information on Australia's $75 billion iron ore export sector,” he said.

“It has delivered hundreds of billions of dollars in royalties and taxes and directly employs over 60,000 Australians.

“None of this has happened by accident. It has taken a vast effort and investment to develop this jewel in Australia's economic crown, which is the envy of the world.”

Ironorefacts.com.au describes the volatile nature of the commodities market and the role that supply and demand plays in dictating the price of iron ore. It also puts Australia’s iron ore production in perspective against that of China, which is the world’s largest.

The website comes as a direct retaliation strategy against FMG and struggling miners BC Iron, Atlas Iron and Cliffs Natural Resources, who three weeks ago launched Ourironore.com – a cyber-attack accusing the iron ore majors of forcing the commodity’s price down through anti-competitive “market-flooding” strategies to win more market share.

The website is petition-driven and seeks community support for an inquiry into the Australian iron ore industry.

While calls for an inquiry appeared to gathered momentum shortly after government came to grips with the $90 billion hole the collapse of the iron ore price left in the 2015 budget, it was quickly brushed off. Prime Minister Tony Abbott said an inquiry would make sense but he did not want a “witch hunt” against any particular company.

“I’m very conscious of the fact that Rio and BHP are our largest corporate taxpayers,” he previously said.

“I want them to continue to flourish, but I also want a level playing field, I want to ensure that there’s no predatory behaviour, I want to ensure that everyone is able to compete freely in an open market.”

Rio Tinto, BHP and the MCA have always been very critical of the potential inquiry, with Pearson saying its only beneficial purpose would be to “shine a critical light on a number of false claims made by Fortescue chairman, Mr Andrew Forrest recently about the operation of iron ore markets”

“It will also expose the folly of calls from Mr Forrest for the Australian government to remove his competitors’ ‘licence to operate’, to re-regulate commodity markets and to establish illegal cartel arrangements,” Pearson added.

“A focus on facts rather than rhetoric will enable a rational consideration of the importance of free and open markets and the dangers of interventions in favour of selected producers.”

The price of iron ore has slumped by more than half in the past year to below $US50 a tonne in April.

It has since recovered slightly and was trading at $US64.45 this morning.