Hancock Prospecting Executive Chairman Gina Rinehart committed “egregious fraud”, Perth Supreme Court heard on Monday, according to a Guardian report.
A lawyer for Rinehart’s children alleges there is clear evidence that mining licenses were unlawfully transferred to the company and a subsidiary after her father, Lang Hancock, died in 1992, the Guardian reported. “We don’t use the word fraud lightly,” lawyer Christopher Withers reportedly said during the trial over mining assets and royalties.
Withers represents Rinehart’s two eldest children John Hancock and Bianca Rinehart. He accuses Australia’s richest person and iron ore tycoon Rinehart of exploiting a joint venture agreement with Hamersley Iron to move Hope Downs and East Angeles tenements.
Hope Downs currently has total production capacity of approximately 47 million tonnes per annum and represents one of Australia’s largest iron ore projects. It is operated by Hancock and Rio Tinto.
For the rest of this article: https://www.mining.com/lawyer-alleges-gina-rinehart-committed-egregious-fraud-over-transferred-mining-licenses/