Rinehart plans to share Pilbara riches

Original article by Brad Thompson
The Australian Financial Review – Page: 17 : 5-Jul-18

Mining magnate Gina Rinehart has launched a profit-sharing scheme for employees of her Roy Hill iron ore project. The share of profits to be distributed to Roy Hill workers will be linked to the company’s iron ore export volumes, with the first payment to be made in December. Roy Hill is seeking government approval to lift the mine’s capacity from 55 million tonnes to 60 million tonnes. Rinehart’s Hancock Prospecting, which has a 70 per cent stake in Roy Hill, has also formally opened its $A390m takeover bid for Atlas Iron.

CORPORATES
ROY HILL HOLDINGS PTY LTD, HANCOCK PROSPECTING PTY LTD, ATLAS IRON LIMITED – ASX AGO, REDSTONE CORPORATION PTY LTD, FORTESCUE METALS GROUP LIMITED – ASX FMG, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, MARUBENI CORPORATION, POSCO

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