Rio Tinto wins ruling to keep others off iron ore railway

Rio Tinto said an Australian regulator has ruled that the firm’s key iron ore rail lines do not have to be opened to rival miners, reinforcing the world No. 2 iron ore miner’s grip on the global market.

The fresh ruling by the Australian Competition Tribunal marked the latest defeat for Fortescue Metals Group in a fight it has been waging since 2004 to force Rio Tinto and BHP Billiton to open their rail lines to others.

“This is great news,” Rio Tinto’s acting iron ore chief Paul Shannon said.

via Business feed http://www.scmp.com/business/companies/article/1147973/rio-tinto-wins-ruling-keep-others-iron-ore-railway