News: Fortescue CEO speaks to BRR Media , page-4

Digity, I agree with most of your answer. However, I don't think Brockman are chasing access to the TPI at $576m per annum. Yes, they want access but not at that price. Even AQA's 245km proposed rail (to carry 30mtpa) was priced at $2.1bn last year in its Feasibility Study. Brockman's Marilana project will want access to the TPI for more than 4 years at 18mtpa, and at that annual access payment rate could build their own for the same price and save money after year 4 (if you ignore finance costs, which admittedly might double the price again even if using lower cost debt finance rather than equity finance). FMG appears to have gone nuts on overcharging for access to the TPI. If they think it really costs that much FMG should make a low ball offer to buy both Flinders' PIOP and Brockman's Marilana projects to get that extra bang for its buck out of its TPI. Just my view.