nice and simple, page-12

Good signs...

http://www.businessspectator.com.au/bs.nsf/Article/Fortescue-rail-bid-get-junior-miner-support-E7STN?OpenDocument

Fortescue rail bid get junior miner support

A group of junior iron ore explorers have voiced their support for Fortescue Metals Group’s bid to gain access to Rio Tinto and BHP Billiton’s Pilbara rail networks.

North West Iron Ore Alliance and the Association of Mining and Exploration Companies are understood to contacted the National Competition Council to throw their support behind Fortescue, The Australian Financial Review reports.

“It’s about whether we want to only have a handful of mining companies in the Pilbara or do we want to have a real diversified industry up there. “I think we want the later,” Atlas managing director David Flanagan told the paper.

Meanwhile, the paper reports that at the end of last year Baosteel was in advanced negotiations to buy 16.5 per cent of Fortescue.

Baosteel is still keen on picking up the stake which is still in the hands of US firm Harbinger, the paper reports.

It is understood that the deal between Fortescue and Baosteel crumbled during price negotiations, despite Baosteel being offered the stake for a significant discount to Fortescue’s share price at the time, the AFR reports.

The source told the paper that Baosteel is no regretting that they didn’t push ahead with the deal, as price talks between iron ore suppliers Rio and BHP have heated up.