despite loss, asciano board wants pay rise, page-14

Maybe Rowsthorn could earn some options by stopping this sort of disaster occuring:

Xstrata shunts Asciano with its own trains

EXCLUSIVE: Matt Chambers | September 25, 2009

Article from: The Australian
IN an east coast first, Swiss miner Xstrata plans to bring some competitive tension to the Hunter Valley coal railway by buying three big coal trains and hauling its own coal to Newcastle Port.

From 2011 the miner will move about a quarter of its coal itself, acting as a competitor to the region's main hauler, Asciano's Pacific National, as well as to Queensland Rail, which recently entered the Hunter Valley market.

Xstrata will remain a Pacific National customer under a decade-long, $800 million haulage deal the pair signed in July.

But extra capacity which would have been picked up by Pacific National will now be moved by the miner instead.

"We have entered into a commitment to procure rolling stock and commence haulage operations from 2011," an Xstrata spokesman said.

"By investing directly into the Hunter Valley coal chain, we are providing greater security of supply for our customers."

Xstrata's move was finalised in recent days and is understood to have come as a surprise to Pacific National.