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Rinehart loses royalties battle in Hope Downs verdict
Published 1 week, 1 day ago
Description
The WA Supreme Court has delivered a split verdict in the 16-year legal battle between Gina Rinehart's Hancock Prospecting and Wright Prospecting over the Hope Downs iron ore mine in WA's Pilbara region. Wright Prospecting won its claim for royalties but lost its equity bid, meaning Hancock retains ownership of the site operated with Rio Tinto but must share royalties with Wright and descendants of mining pioneer Don Rhodes. The dispute originated from a decades-old pact between Rinehart's father Lang Hancock and his business partner Peter Wright, with both parties now claiming victory in the ruling.
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