| Earlier this year the Full Court of the Federal Court of Australia unanimously ruled that the service provided by Rio Tinto’s Pilbara rail lines should not be declared as being available for access to third parties. Today the High Court of Australia granted Fortescue Metals Group Ltd and the National Competition Council leave to pursue appeals in relation to the decision of the Full Federal Court.
No date has been set for the hearing of these appeals but it is expected that they will be listed in the first half of 2012.
Rio Tinto maintains that the potential costs of access far exceed any theoretical benefits. This was accepted in the findings of the Australian Competition Tribunal. Rio Tinto will therefore take all appropriate steps to defend these appeals.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America. |
No comments:
Post a Comment