A 5-1 win over Bulgaria ensured the Ice Blacks would finish second at the world division two, group B championships.
China had already sealed promotion to group A and capped its good week with a 7-3 win over South Africa.
For the Ice Blacks, there will be a touch of frustration mixed in with satisfaction at having performed well for much of the week.
They are desperate to keep moving up the world rankings and will look back with annoyance at the moments - particularly the poor performance against the bottom-placed host nation - that cost them that opportunity.
Yesterday, the Ice Blacks made a nervy start, losing three men to Bulgaria's none to the penalty box in a first period that ended 0-0.
Botany Swarm forward Jordan Challis opening the scoring with a power-play goal just 63 seconds into the second period, and Dunedin Thunder defenceman Mitch Frear made it 2-0.
Bulgaria pulled a goal back near the end of the second period but the Ice Blacks poured in three goals in the final 20 minutes.
Nicholas Henderson (West Auckland Admirals) and Andrew Cox (Perth Thunder) found the net, before Frear grabbed his second.
Henderson, who was later named most valuable New Zealand player based on the votes of coaches at the tournament, also had three assists in the game.
Henderson led all Ice Blacks scorers at the tournament with 10 points (four goals, six assists), tied for second overall.
Cox and Heyd each had eight points (three goals, five assists) to tie for 10th on the scoring list.
Former Dunedin goaltender Rick Parry was second on the save percentage rankings with a smart rate of an even 90%, and Canterbury Red Devils defenceman Jamie Lawrence led all players in plus-minus with a mark of +10.
The Ice Blacks will be joined in the tournament next year by Australia, which was relegated from division two, group A, and division three winner South Korea.
South Africa is relegated to division three.
