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Arrium the latest Australian miner to be stung by take-or-pay rail contracts

2015-02-15 16:36:38| Real Estate - Topix.net

Arrium Ltd will continue to pay for rail access long after it shuts a group of loss-making mines in South Australia, in the latest example of Australian miners being stung by "take-or-pay" rail contracts. Arrium recently confirmed it would close its Southern Iron mines near Coober Pedy in the first half of 2015, on the back of steep declines in iron ore prices that have rendered the assets unviable.

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