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Mining Weekly reported Gina Rinehart has lost a court appeal to reclaim a 25% stake in the Rhodes Ridge iron-ore deposit in Western Australia from rival miner Wright Prospecting.
Mining Weekly reported Gina Rinehart has lost a court appeal to reclaim a 25% stake in the Rhodes Ridge iron-ore deposit in Western Australia from rival miner Wright Prospecting.
As quoted in the market news:
The Supreme Court of Western Australia dismissed an appeal from Rinehart’s Hancock Prospecting on Tuesday, court documents showed, leaving Wright Prospecting with 50% of the Rhodes iron-ore asset and joint venture partner Rio Tinto the other half.
The ruling upholds an earlier decision backing Wright’s claims to 50% of the Rhodes asset.