Gina Rinehart's Hancock Prospecting Profit Slides
Billionaire businesswoman Gina Rinehart has received a $1.4b payout despite her private mining company, Hancock Prospecting, posting its lowest profit since 2020.
Hancock Prospecting, controlled by Rinehart with her four children having a small stake via a trust, mined less iron ore, earned less revenue and made less profit than a year ago.
The company blamed softer prices and weather disruptions to production for the decline.
A dispute about the trust has frozen $6.4b of dividends.
Gina Rinehart has received half the dividend she pocketed last year from her flagship iron ore operations.
Author's summary: Gina Rinehart receives $1.4b payout amidst profit decline.
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