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| Gina Rinehart loses last chance to regain share of Rhodes Ridge iron ore | Gina Rinehart loses last chance to regain share of Rhodes Ridge iron ore |
| (6 days later) | |
| Gina Rinehart's Hancock Prospecting has lost its final bid to claw back a stake in the large Rhodes Ridge iron ore project in Western Australia's Pilbara region. | Gina Rinehart's Hancock Prospecting has lost its final bid to claw back a stake in the large Rhodes Ridge iron ore project in Western Australia's Pilbara region. |
| A 2010 court order forced Hancock to relinquish its 25% stake in the project, increasing Wright Prospecting's interest to 50%. | A 2010 court order forced Hancock to relinquish its 25% stake in the project, increasing Wright Prospecting's interest to 50%. |
| The order also honoured an agreement between Rinehart's father Lang Hancock and his business partner Peter Wright in 1984 that involved the carve-up of their mining assets. | The order also honoured an agreement between Rinehart's father Lang Hancock and his business partner Peter Wright in 1984 that involved the carve-up of their mining assets. |
| An appeal by Hancock was dismissed in October last year but the company contested certain court orders. In February, the appeal against the orders was dismissed. | An appeal by Hancock was dismissed in October last year but the company contested certain court orders. In February, the appeal against the orders was dismissed. |
| On Thursday, the full bench of the high court of Australia refused Hancock's application for special leave to appeal. Hancock will also have to pay court costs. | On Thursday, the full bench of the high court of Australia refused Hancock's application for special leave to appeal. Hancock will also have to pay court costs. |
| Rio Tinto owns the other half of the Rhodes Ridge project, situated east of the mining giant's West Angelas operation and south of its Hope Downs joint venture with Hancock. | Rio Tinto owns the other half of the Rhodes Ridge project, situated east of the mining giant's West Angelas operation and south of its Hope Downs joint venture with Hancock. |
| Hancock and Wright remain embroiled in another court stoush over three of the six Hope Downs iron ore tenements. | Hancock and Wright remain embroiled in another court stoush over three of the six Hope Downs iron ore tenements. |
| Wright seeks half of Hancock's 50% stake, considering Hope Downs was jointly discovered by Lang Hancock and Peter Wright. The Hope Downs 4 mine is set to become fully operational at the end of this month. | Wright seeks half of Hancock's 50% stake, considering Hope Downs was jointly discovered by Lang Hancock and Peter Wright. The Hope Downs 4 mine is set to become fully operational at the end of this month. |
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