Magnetic Rail Group

[1] The company was formed as the corporate vehicle by which Magnetic Infrastructure Group Pty Ltd, an Australian incorporated 50‍–‍50 joint venture ultimately owned by M Infrastructure Group Pty Ltd and PT Asian Bulk Logistics, would manage the former One Rail Australia coal haulage assets that it was in the process of acquiring.

[2][3] One Rail Australia had hauled about 30 per cent of Hunter Valley export coal volumes[2] and since 2020 had expanded its operations into Queensland.

Since the latter company was already a major operator in the Hunter Valley and Queensland coal haulage market, its acquisition of those assets had the potential to dilute competition.

Consequently, Aurizon pledged a court-enforceable undertaking to divest the coal haulage assets of the business via trade sale or demerger.

[7] The sale price was described as representing a significant discount on the AUD1.16 billion (USD780 million) paid by Genesee & Wyoming Australia and Macquarie Infrastructure Corporation in 2016 for the former Glencore rail business, which still forms the bulk of the acquired assets.