1. Comments on: Access and mineral supply chains. Stephen P King Monash University

2. Short version – pretty much agree with Russell.

3. Long version.

4. Should miner F be allowed access to miner B’s railway line?

5. Where is the economic problem?

6. Mine Railway Foreign buyers

7. Mine Railway: Build own or use someone else’s Foreign buyers

8. Mine Railway: Build own or use someone else’s Foreign buyers Price takers in international markets

9. Mine Railway: Build own or use someone else’s Foreign buyers Price takers in international markets Existing rail owned by separate company

10. No Economic problem – no regulated access needed.

11. Mine Railway: Build own or use someone else’s Foreign buyers Price takers in international markets

12. Mine Railway: Build own or use someone else’s Foreign buyers Price takers in international markets Existing rail owned by mining company

13. Mine Railway: Build own or use someone else’s Foreign buyers Price takers in international markets Existing rail owned by mining company No upstream issue

14. No Economic problem – no regulated access needed.

15. In both these cases a miner may seek regulated access to improve its bargaining position.

16. No Economic problem – no regulated access needed. And in both these cases declaration could occur under Part IIIA!

17. Mine Railway: Build own or use someone else’s Foreign buyers Existing rail owned by mining company

18. Mine Railway: Build own or use someone else’s Foreign buyers Market power in international markets Existing rail owned by mining company

19. Mine Railway: Build own or use someone else’s Foreign buyers Existing rail owned by mining company Upstream holdup

20. Economic problem – regulated access may be appropriate solution.

21. Mine Railway Foreign buyers Market power in international markets Mine

22. Railway Foreign buyers Market power in international markets Mine Vertical separation or joint ownership?

23. Mine Railway Foreign buyers Market power in international markets Mine Vertical separation or joint ownership? Imperfect access regulation

24. Conclusion Basically agree with Russell. But we have a problem in our law relating to ‘market’. And joint ownership with a regulated access price is an interesting ‘third way’.