The iron ore price in 2011 was $180 per tonne. Today its around $US35 per tonne. This fall has wiped billions off the worth of two of Australia’s top mining magnates, Gina Rinehart and Andrew Forrest. Rinehart’s estimated worth has dropped from $30 billion in 2012 to around $11 billion. Forrest’s situation is believed to…
Mining magnate Gina Rinehart believes the Australian federal government is not facing up to the crash in commodity prices threatening to blow a hole in the budget. Labelling government as “too big, too costly, too onerous’’, Mrs Rinehart warned that debt levels were increasing and without the flow of commodity revenue to Canberra, Australia could…
I like and admire Gina Rinehart. She has the same strong will and guts and staying power as her prospector father Lang Hancock. She is building on her father’s iron ore legacy by developing the $10 billion Roy Hill mine in Pilbara. Lang always wanted his own mine but generally had to settle for royalty…
I saw Part one of the Channel Nine smear of the Rinehart family “House of Hancock” a week or so ago. Remember how they made a film about Nancy Reagan and had the disgusting extreme left traitor Jane Fonda play the lead role? Nine Entertainment Company cast notorious left winger Sam Neil as patriarch Lang…
Gina Rinehart has sold her entire holding of 352 million shares in Fairfax Media.This was around 15% of the company and she received around $350 million for the shares. Apparently Gina has decided that Fairfax are a bunch of clueless losers and the problems at the company cannot be fixed. Ms Rinehart’s business lieutenant John…
