Riches keep rolling in for Rinehart

Original article by John Stensholt
The Australian – Page: 22 : 12-Nov-19

Hancock Prospecting posted a net profit of $2.6bn in 2018-19, compared with just $443m in 2016, while its revenue increased from $1.6bn to $8.4bn over the same period. Hancock, which is controlled by mining magnate Gina Rinehart, benefited from a sustained rally in the iron ore price in 2018-19. The Roy Hill iron ore project was a major contributor to Hancock’s earnings for the financial year, with a profit of $1.38bn and revenue of $5.16bn. Rinehart’s wealth was estimated at $13.12bn in March.

CORPORATES
HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s