Gina Rinehart's Hancock Prospecting Sees Profit Slide
Gina Rinehart, billionaire businesswoman, has received a $1.4b payout from her private mining company, Hancock Prospecting, despite the company's profit slide.
Hancock Prospecting, controlled by Rinehart and her four children via a trust, has seen its lowest profit since 2020 due to softer prices and weather disruptions to production.
The company mined less iron ore, earned less revenue, and made less profit than the previous year. A dispute about the trust has frozen $6.4b of dividends.
A dispute about the trust has frozen $6.4b of dividends.
Rinehart’s payout is half of what she received last year from her flagship iron ore operations.
Author's summary: Gina Rinehart receives $1.4b payout amid profit slide.
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