pre-empt rail access tribunal decision

Common logic suggests UMC sits it out. Conspiracy theory or not.

From BHPB's perspective (and as others may say the UMC board beneficiaries whose interests may lie elsewhere), it's all about beating the decision of the tribunal expected in the next few months (which if judging comments from Colin Barnett recently as preconditions for BHPB-RIO JV among other past developments), it will be decided in favour of FMG.

Once rail access is declared OPEN (despite subsequent appeals), the case for BHPB TO of UMC goes out the window instantly.

Also, one wonders what changed so much in so short a time. Check out these excerpts of UMC's own ASX announcement (regarding a parallel infrastructure strategy).

"...We welcome the deal with China Railway Materials Commercial Corp. Group and look forward to working with them as a strategic shareholder in bringing this outstanding deposit to commercialisation. The long term offtake agreement will materially assist the financing of the project he said...."

"....Clearly, given their infrastructure capabilities, China Railway Materials Commercial Corp. Group may be involved in infrastructure solutions to assist commercialisation of the Railway Deposit...."