CORRECT: Australian Competition Tribunal: Grants Access To Robe Rail To 2018

30th Jun 2010 09:57

("Australian Competition Tribunal: Grants Access To Robe Rail To 2018," at 0806 GMT, misstated the amount of access to railways in the first graph, the ruling and the owner of the Mt. Newman line in the second graph. The correct version follows:) SYDNEY (Dow Jones)--Fortescue Metals Group Ltd. (FMG.AU) should be granted access to two rail networks in Australia's Pilbara iron-ore mining region operated by its larger rivals BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RIO.AU), the country's competition courts ruled on Wednesday. The Australian Competition Tribunal upheld decisions previously made by the country's National Competition Council and Treasurer Wayne Swan giving Fortescue in-principle access to the BHP's Goldsworthy network. But the tribunal upheld a ruling that denies Fortescue service on BHP's Mt. Newman line. However, Fortescue would only have access to Rio's Robe network, linking mines to the port of Cape Lambert, for 10 years to the 19 November 2018, rather than the 20 years offered by Swan. A fourth application seeking access to the Hamersley network joining Paraburdoo to the port of Dampier was set aside, the tribunal ruled, overturning the Treasurer's decision to grant access. The two big miners have argued that granting multiple users access would disrupt their huge integrated mine, rail and port operations and discourage investment in expansions of the systems. Fortescue, which has in the interim built its own railway to service its Chichester iron ore project, has argued that the lack of access to infrastructure has been a barrier to the development of iron ore deposits held by junior miners. -By David Fickling, Dow Jones Newswires; +61 2 8272 4689; [email protected] (END) Dow Jones Newswires June 30, 2010 04:57 ET (08:57 GMT)