rio - bhp jv on iron ore

My first reaction is this could be good news for UMC, who hopefully at this stage have no commitments to any third party.

Things to ponder :

Could this encourage other parties to find a resource outside the BHP-RIO JV.

Could this also put pressure on the Govt to push for open access to railway facilities now that the two bigs have monopoly.

Obviously the market likes it as FMG and UMC have taken a rise in price.