Billionaire Rinehart Seeks More Royalties From Rio Tinto
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Gina Rinehart, Asia’s richest woman, said Rio Tinto Group owes royalties to her company and partner Wright Prospecting Pty. on 12 years of production at two mines in Australia.
The payments amount to 2.5 percent of ore sales at the Channar and Eastern Ridge mines, Wright’s lawyer Rod Smith said in New South Wales state court in Sydney today. Rinehart’s Hancock Prospecting Ltd. and Wright are suing Rio Tinto’s Hamersley Iron Pty. unit to recoup royalties they say are owed.