Gina Rinehart’s Hancock Prospecting to pay hundreds of millions’ worth of royalties to rival family in ‘half loss half win’

Gina Rinehart’s Hancock Prospecting has lost its bid to retain royalties from the Hope Downs iron ore project, requiring payment of hundreds of millions in royalties to Wright Prospecting. A Western Australia supreme court ruling confirmed Wright Prospecting’s contractual claim to 50% of past and future royalties from the project.