My 50c worth is that FMG do not want Brockman on their railway and are doing whatever it takes to prevent this from happening. As it says below in the most recent FMG announcement, FMG are actively negotiating outside the code with other third parties, AGO?
TPI challenges rail access proposal and cost determination
“TPI has also commenced Proceedings in the WA Supreme Court for Declarations that Brockman’s proposal for access to TPI’s railway is invalid and does not enliven the operation of the Code. It is TPI’s view that Brockman is merely seeking an option to access TPI’s railway at some future time and is not capable of entering into a binding agreement to use and pay for use of TPI’s railway at this time.
“TPI cannot be expected to subsidise third party projects that are uneconomic. The object of the Code is not to provide an “option” on infrastructure,” Mr Power said.
Fortescue is a strong proponent of third party access to infrastructure and is actively negotiating outside the Code with other potential third parties that have commercially viable projects.”
AGO Price at posting:
85.5¢ Sentiment: Buy Disclosure: Held
