Rio Tinto: NCC Recommendations Could Cost Australia A$30 Billion
Rio Tinto Ltd. (RTP) said Friday a call by Australia’s National Competition Commission for its Pilbara rail infrastructure to be thrown open to third parties would put at risk billions of dollars in future investment.
“Imposing such a system would quickly see the infrastructure chaos and inefficiencies that have plagued the East Coast ports duplicated in the Pilbara, ” Rio Tinto Iron Ore Chief Executive Sam Walsh said in a statement.
He cited a report by Canberra think tank Access Economics estimating that a multi-user system could cost up to A$30 billion over 20 years.
Miners Rio Tinto and BHP Billiton Ltd. (BHP.AU) have resisted previous efforts by outside companies – mostly Fortescue Metals Group Ltd. (FMG.AU) – to gain access to their rail tracks in the Pilbara in northwest Australia.
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