Gina Rinehart Loses Appeal To Regain Iron Ore Stake

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.

Click here to read the full Mining Weekly report.