QR National Studies Railway That Could Open Australia's Pilbara
26 April 2012 - 9:22AM
Dow Jones News
QR National Ltd. (QRN.AU), Australia's largest rail freight
company, said Thursday it is evaluating building a railway that
could connect a number of isolated iron-ore mines in the country's
remote Pilbara region with Port Hedland and export markets.
It has signed an agreement to bring on mining company Atlas Iron
Ltd. (AGO.AU) as a cornerstone user, although other companies would
be connected to the line through a staged development.
Atlas, in a separate statement, said the joint feasibility study
with QR National is expected to be completed by the end of the
year, and haulage could begin as early as 2015.
Iron-ore production in the Pilbara is dominated by Rio Tinto PLC
(RIO), BHP Billiton Ltd. (BHP) and Fortescue Metals Group Ltd.
(FMG.AU), which maintain a tight control over rail lines they each
built to transport their ore to ports in Western Australia
state.
-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094;
robb.stewart@dowjones.com
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