NewsSunday, 06 Dec 2009
BHPB bids for Rio - FMG denies involvement
Monday, 07 Dec 2009
It is reported that Fortescue Metals Group has rejected any suggestion that opening up BHP Billiton and Rio Tinto's rail lines in Western Australia's Pilbara will hinder the mining giants' iron ore expansion plans.
As per report, Mr Andrew Forrest's Fortescue kicked off its final submission to the Australian Competition Tribunal as BHP and Rio approach a self imposed December 5th 2009 deadline to finalize their proposed USD 140 billion Pilbara iron ore JV.
The latest chapter in the bitter and protracted legal battle follows mounting speculation that BHP and Rio may not be able to agree to terms on the industry transforming partnership.
Appearing before tribunal president Justice Mr Ray Finkelstein, Fortescue's counsel Mr Jonathan Beach QC argued that there was no credible scenario under which BHP and Rio's iron ore growth plans would be hampered by third party access to their rail lines.
The parties are then likely to return to the tribunal in February 2010.
(Sourced from www.heraldsun.com.au)
bhp / rio joint venture, page-2
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