Australia's richest woman owns stakes in some of the biggest coal and iron ore mining projects in the country through Hancock Prospecting. She also holds the rights to revenue royalties from Rio Tinto's Hamersley Iron mines. In addition, Rinehart is a major shareholder in two of Australia's biggest media companies, Ten Network and Fairfax Media.
The net worth of Australia’s richest individual, Gina Rinehart, has declined by $2.7 billion to $15.2 billion after revenue and earnings slipped at her closely held iron-ore mining company Hancock Prospecting Pty Ltd.
Aurizon Holdings Ltd., Australia’s biggest haulage company, is aiming to complete an agreement to build a railroad for a $10 billion coal project owned by India’s GVK Group and Gina Rinehart by the middle of next year.
Australian banks are set for a lending boost as Prime Minister Tony Abbott champions ventures to revitalize the economy, accelerating some of the more than A$80 billion ($72 billion) of infrastructure projects.
Australia’s four largest banks are expected to bid to join the A$7 billion ($6.5 billion) financing of Gina Rinehart’s Roy Hill mine development by today’s deadline, four people familiar with the matter said.
The board of the U.S. Export-Import Bank, an independent federal lending agency, gave preliminary approval for $694 million in financing for billionaire Gina Rinehart’s Roy Hill iron ore project in Australia.
Gina Rinehart, the richest woman in the Asia Pacific region, changed the rules governing her children’s $4 billion trust in 2006 for her own benefit and not her children’s, breaching her duty as trustee, a lawyer said.
Gina Rinehart’s $4 billion family trust is without a nominee to replace her as manager after a judge rejected a proposal from her youngest daughter Ginia Rinehart and her son withdrew a nomination for himself and his choice of an independent candidate.
John Hancock, the estranged son of Australia’s wealthiest citizen, the iron ore billionaire Gina Rinehart, recently flew to the U.S. to join 400 guests at a four-day wedding celebration in Bar Harbor, Maine.