Australian Regulator Urges Collective Bargaining For Queensland Coal Rail
December 07 2011 - 9:21PM
Dow Jones News
Australia's competition watchdog Thursday proposed allowing a
group of coal miners to bargain collectively for access to the rail
network connecting mines in Queensland state's Bowen Basin with the
port of Abbot Point.
The Australian Competition and Consumer Commission said
collective bargaining between the miners and QR National Ltd.
(QRN.AU) for access to the Newlands, Blackwater and Goonyella rail
systems would bring significant cost savings and help avoid
potential delays in building new terminals at Abbot Point.
The miners include Carabella Resources Ltd. (CLR.AU), New Hope
Corp. (NHC.AU), Peabody Energy Corp. (BTU) and Rio Tinto PLC
(RIO).
The ACCC is proposing to authorize the arrangements for 15
years.
"The ACCC is satisfied that the voluntary nature of the
arrangements, the limited composition of the collective bargaining
group and the limited scope of the negotiations will mean that any
potential detriment is minimal," Rod Sims, the ACCC's chairman,
said.
-By David Winning, Dow Jones Newswires; +61-2-82724688;
david.winning@dowjones.com
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