logo
Share SHARE
FONT-SIZE Plus   Neg

Rio Tinto Pleased With Tribunal Decision To Keep Iron Ore Rail Lines To Itself

Mining giant Rio Tinto Plc. (RTNTF.PK, RIO,RIO.L,RTPPF.PK) Monday said it welcomes the Australian Competition Tribunal's decision that its Hamersley and Robe rail lines should not be opened up to other users.

Rio Tinto Iron Ore acting chief executive Paul Shannon said "This is great news. Rio Tinto runs a highly efficient railway that is fully integrated with our port and mine operations. This would be severely hindered if third parties were allowed to run trains on our rail network, not to mention the knock-on negative effect on the Western Australian and national economies from creating such inefficiencies."

Rio's rival Fortescue Metals Group Ltd. (FSUMF.PK,FMG.AX) has been trying to get access to the rail lines of Rio and BHP Billiton Ltd (BHP, BBL, BLT.L,BHP.AX).

However, the mining giants believe these lines are an integral part of their mining operations and allowing the trains of other companies to run on them would affect their businesses.

RIO.L settled down marginally at 3,658.00 pence on Friday.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A United Airlines flight from Shanghai to New Jersey was delayed for hours as an unruly passenger refused to vacate the seat of another passenger while boarding the aircraft in Shanghai. The flight was also forced to make an unscheduled stop at San Francisco International Airport to get a replacement crew after delays caused by the passenger. Nacho cheese sauce sold at a Sacramento gas station has tested positive for the toxin that causes botulism and killed one person, according to health officials. The California Department of Public Health or CDPH said it has confirmed that the cheese sauce sold at the gas station in Sacramento County tested positive for the toxin that causes botulism. Google's artificial intelligence or AI player AlphaGo defeated world's number one Go player Ke Jie of China. Go is an ancient Chinese board game, harder than chess.
comments powered by Disqus
Follow RTT