Rio Tinto maintains rail monopoly

THE BOURSE WHISPERER: Rio Tinto (ASX: RIO) has welcomed the Australian Competition Tribunal’s decision that the company should not be required to allow third party users to play with its Hamersley and Robe rail lines train set.

“This is great news,” Rio Tinto iron ore acting chief executive Paul Shannon said in the company’s brief announcement to the Australian Securities Exchange.

“Rio Tinto runs a highly efficient railway that is fully integrated with our port and mine operations.

“This would be severely hindered if third parties were allowed to run trains on our rail network, not to mention the knock-on negative effect on the Western Australian and national economies from creating such inefficiencies.”