RiverA JV or a seperate company set up as a JV would still be...

River
A JV or a seperate company set up as a JV would still be percentage owned by IOH unless that company and Maitland was sold off with funds coming back into IOH.

Regarding Fosters shareholding. I would like very much to see the wording in that agreement but given they have aquired the shares, they are theirs to do as they please and I would not be supprised if some had not been distributed to large sophisticated investers. There could be rules though and I would expect this to be in their agreement that any large sales would need running past the board.

I'm more excited about the Satelites being advertised to 12 international plus local major iron ore punters. This will certainly raise IOH profile on the international stage and likely be the catalyst for shared rail from Kurajurra in my opinion.
If some of these international parties are existing BHP iron ore buyers, they will be asking why in this time of inability of the big incumbants to keep up with their demand can't they get this "ready to go" ore onto the track and to their mills.
Either way I see this as a very good move by the board. Bring mohammad to the mountain I say..!
Come and see what's sitting here right by the railway line...