Billionaire mining magnate Gina Rinehart’s father Lang Hancock exaggerated his personal role in the discovery of rich Pilbara iron ore reserves and downplayed the role of others, the West Australian Supreme Court has been told. That was the assessment of lawyer Jeremy Stoljar SC, who recounted to the court a business meeting in May 1972 between Mr Hancock and his associates at the time, including prominent businessman Don Rhodes.
Mr Stoljar is representing the Rhodes family company DFD Rhodes, which has joined the mammoth legal battle between Ms Rinehart’s Hancock Prospecting and Mr Hancock’s late former business partner Peter Wright’s family and their company Wright Prospecting.
The Wright family is claiming billions of dollars in royalties and equity from the Hope Downs mines and deposits in the Pilbara region. The Rhodes family also wants a cut, claiming they have a right to1.25 per cent of royalties from Hope Downs, owned and operated by Hancock Prospecting and Rio Tinto, because of a 1969 agreement between the parties.
Mr Stoljar was trying to demonstrate that his client had an important role in the early years of iron ore exploration and development, not just Mr Hancock or Mr Wright.
For the rest of this article: https://www.abc.net.au/news/2023-07-31/gina-rinehart-trial-dfd-rhodes-lang-hancock-role-iron-ore/102668232