The Case Of The Curious Iron Mine Lawsuit

Bloomberg reported Wright Prospecting Pty’s lawsuit staking a claim in Australian iron ore assets is “curious” as Gina Rinehart announced a mining partnership.

As quoted in the market news:

Wright Prospecting is seeking 50 percent of Hancock’s stake in three tenements, known as Hope Downs 4, 5 and 6, according to a copy of the writ filed Sept. 24 in Perth in the Supreme Court of Western Australia. The company was founded by Peter Wright, who discovered the iron ore deposits with Rinehart’s father, Lang Hancock. Rinehart inherited the mining assets and is chairman of the company Hancock founded.

Click here to read the full Bloomberg report.