High Court dismisses Rinehart's bid for Rhodes Ridge stake
The order also honoured an agreement between Mrs Rinehart's father, Lang Hancock, and his business partner, Peter Wright, in 1984, that involved the carve-up of their various mining assets.
An appeal by Hancock was dismissed last October but the company contested certain court orders. In February, the appeal against the orders was dismissed.
On Thursday, the full bench of the High Court refused Hancock's application for special leave to appeal. The company will also have to pay court costs.
Wright Prospecting issued a brief statement saying it welcomed the ruling.
"Throughout this matter and the previous matters in the Supreme Court of Western Australia and the Court of Appeal, Wright Prospecting's focus has been to enforce and protect its rights to 50 per cent of the Rhodes Ridge joint venture," it said.
"The company is pleased that today's ruling upholds those rights and the original judgment."
Rio Tinto owns the other half of Rhodes Ridge, situated east of its West Angelas operations and south of its Hope Downs joint venture with Hancock.
Rhodes Ridge has been the subject of legal battles before the Hancock and Wright stoush. Junior explorer Cazaly Resources began its valiant attempt to wrest control of the project from the three mining heavyweights in 2007.
Cazaly said the joint venture had "warehoused" the project for decades instead of developing it. In 2010, the Supreme Court of WA said Cazaly had a case but the company has not pushed ahead with its challenge.
Hancock and Wright remain embroiled in a separate court dispute over three of the six Hope Downs iron ore tenements. Wright seeks half of Hancock's 50 per cent stake, considering Hope Downs was jointly discovered by Lang Hancock and Peter Wright.
Frequently Asked Questions about this Article…
The full bench of the High Court refused Hancock Prospecting's application for special leave to appeal, effectively ending Gina Rinehart's final legal bid to reclaim the Rhodes Ridge stake. Hancock will also have to pay court costs.
Wright Prospecting holds 50% of the Rhodes Ridge joint venture following a 2010 court order that forced Hancock Prospecting to relinquish its 25% stake. Rio Tinto owns the other 50%.
A 2010 court order enforced an agreement dating back to 1984 between Lang Hancock and Peter Wright that carved up their mining assets, which resulted in Hancock relinquishing the 25% stake and increasing Wright Prospecting's interest to 50%.
Hancock's initial appeal was dismissed last October, it contested certain court orders with an appeal dismissed in February, and the High Court later refused special leave to appeal, bringing the legal challenge to an end.
Wright Prospecting issued a brief statement welcoming the ruling, saying it was focused on enforcing and protecting its rights to 50% of the Rhodes Ridge joint venture and was pleased the decision upheld those rights and the original judgment.
Rhodes Ridge is in the Pilbara region of Western Australia, situated east of Rio Tinto's West Angelas operations and south of its Hope Downs joint venture (the latter being a joint venture with Hancock Prospecting).
Yes. Junior explorer Cazaly Resources began attempts in 2007 to take control from the larger players, accusing the joint venture of 'warehousing' the project. In 2010 the WA Supreme Court said Cazaly had a case, but the company did not press ahead with the challenge.
Yes. Hancock and Wright remain in a separate court dispute over three of the six Hope Downs iron ore tenements, with Wright seeking half of Hancock's 50% stake on the basis that Hope Downs was jointly discovered by Lang Hancock and Peter Wright.
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