.
Fortescue Metals Group Limited (ASX:FMG) is challenging a regulator’s decision forcing it to negotiate access to its rail line with fellow miner Brockman Mining Australia Pty Limited (ASX:BRM).
The iron ore miner has gone to Western Australia's Supreme Court to ask for a judicial review of the state's Economic Regulation Authority's decision last month.
Fortescue's chairman Andrew Forrest says that Brockman's Pilbara iron ore project is not viable and its presence would block access for more economic projects.
Fortescue also wants to charge up to $576 million a year for access instead of the limit of $316.9 million a year the ERA allowed.
Fortescue's rail infrastructure is open to third-party access by negotiation because it was built after rules were introduced in WA in 2000.
Fortescue generated a net profit of $1.9 billion in fiscal 2013.
Add to My Watchlist
What is My Watchlist?