A Supreme Court judge has ruled that Gina Rinehart, Australia's wealthiest person, must share a portion of her mining empire's fortunes with rival heirs.
The decision follows a high-profile legal battle spanning more than 13 years regarding mining rights and royalties at the Hope Downs iron ore project.
According to bbc.com, Justice Jennifer Smith ruled that Rinehart must pay both past and future royalties to the Wright family. However, the court confirmed that the mining rights themselves remain under Rinehart's control.
The dispute centered on the agreement between Rinehart's father, Lang Hancock, and his business partner, Peter Wright. The two pioneers established a business called Hanwright to manage their joint interests in the mineral-rich Pilbara region.
During a 51-day trial in 2023, the children of Peter Wright argued that Rinehart breached the original agreement. They claimed they were entitled to a significant share of the royalties stemming from the lucrative Hope Downs site.
Justice Smith described the split outcome of the litigation, stating, "Wright Prospecting won half of its case, lost half of its case, and Hancock Prospecting... has won and lost half of its case."
Family trust dispute
The legal proceedings also involved Rinehart's children, Bianca Rinehart and John Hancock. The pair alleged that their mother moved mining rights out of a family trust to prevent them from accessing the fortune.
According to the outlet, the claimants argued their grandfather intended to share the wealth from Hope Downs with them. They alleged Rinehart deliberately moved these rights to a part of the business they could not access.
Rinehart's legal team countered that the move was necessary due to suspicions regarding her father's business dealings. The children, however, argued the restructuring was a tactic to keep money from Rinehart's second wife, Rose Porteous.
While the claims made by Rinehart's children regarding the mining rights were denied, the court partially granted a royalty bid from the family of the late engineer Don Rhodes.
Hancock Prospecting executive director Jay Newby welcomed the ruling. He said the decision confirmed the company's ownership of Hope Downs and "firmly rejecting" the claims made by the Wright family and Rinehart's children.
A spokesperson for Wright Prospecting also expressed satisfaction with the result, stating they were "pleased to finally receive a result in our favour."
Hope Downs is currently operated jointly by Hancock Prospecting and the global mining giant Rio Tinto. Last year, the site contributed A$832m to Rinehart's company coffers.
