Rinehart Loses Court Battle Over Rhodes Ridge

By
A A A

Gina Rinehart, richest woman of Australia and of the world, has lost an 11-year old court battle to repossess from rival miner Wright Prospecting Pty Ltd. a 25 per cent stake in the Rhodes Ridge three billion tonne iron ore deposit in Western Australia.

In March 2010, Ms Rinehart's Hancock Prospecting was ordered by the court to surrender to Wright Prospecting its 25 per cent per cent stake in the project, effectively boosting the latter's hold on the project to 50 per cent. As expected, Ms Rinehart and her camp immediately lodged an appeal to nullify this order.

Read More on International Business Times



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Commodities

Referenced Stocks:

International Business Times

International Business Times
  • See all for International Business Times
  • View Print Version

More from International Business Times:

Related Videos

Voya – Babies Retirement
Voya – Babies Retirement            

Stocks

Referenced

Most Active by Volume

79,812,121
  • $12.11 ▼ 5.61%
68,370,163
  • $104.83 ▲ 1.79%
65,036,978
  • $16.60 ▲ 1.22%
64,087,181
  • $8.40 ▲ 5.93%
54,443,769
  • $33.66 ▼ 2.43%
44,944,529
  • $97.82 ▲ 1.50%
40,119,778
  • $45.02 ▲ 1.44%
34,306,104
  • $80.04 ▲ 2.13%
As of 10/23/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com