The Aurizon Holdings Ltd (ASX: AZJ) share price is down 0.8% after announcing some news to the market.
Aurizon is Australia’s largest rail freight operator, moving coal, iron ore, agricultural freight and more across the nation. Each year it transports over 250 million tonnes of Australian commodities. It owns and operates one of the world’s largest coal rail networks, linking approximately 50 mines with three major ports in Queensland.
Aurizon’s Supreme Court News
Aurizon announced that the Supreme Court of Queensland confirmed Aurizon Network’s ability to charge above regulatory fees disputed by customers under the Wiggins Island Rail Project Deeds.
The rail network business is currently assessing the details of the Supreme Court decision, including the financial benefits, so it will update the market when that has been concluded.
Aurizon said no provision has been made, or revenue accrued, for the above regulatory fees since the completion of the Wiggins Island Rail Project in 2015 and this decision does not impact Aurizon’s regulated return for the project.
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