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Rail News Home Rail Industry Trends

5/27/2010



Rail News: Rail Industry Trends

Coal miner consortium makes bid for Queensland Rail's coal network


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A consortium of 13 mining companies recently proposed a $4 billion bid for Queensland Rail's coal rail network in Australia, which is owned by the state of Queensland.

The Queensland Coal Industry Rail Group includes BHP Billiton Ltd., Anglo American Plc, Xstrata Plc, Rio Tinto Ltd., Felix Resources Ltd., Macarthur Coal Ltd. and Peabody Energy Corp.

Consortium officials believe the group’s offer is a feasible alternative to the state government’s plan to generate nearly $3 billion for all of Queensland Rail’s coal and freight assets through an initial public offering.