Ann: Juno Minerals Demerger & IPO Delayed, page-73

You can repeat yourself to the cows come home but it does not alter the fact JMS is a typical mining company. It owns with its partners the manganese resource and the processing facilities. Many if not most mining companies contract the mining - transportation -rail -shipping. FMG have The Pilbara Infrastructure TPI which is a separate entity where it has often been suggested they could sell off their infrastructure entity.
And at the end of the day JMS may one day change how it operates -companies fluctuate from contracting out mining to owning their own equipment and then a few years later selling it all off again to revert to contractors.

Nothing at all about JMS that is unique -it's a mining company pure and simple. They don't own the rail facilities and that is not unique either with many major mining operations using Govt rail. As for shipping only companies like FMG have ventured into ships. What is it you don't understand ?