Woman mining entrepreneur could be become world’s richest person – and « Mining Blog

Woman mining entrepreneur could be become world’s richest person – and

1. July 2011,

According to a recent report from Citigroup bank – which has estimated the value of “greenfield” mining projects, destined to come into production soon – Rio Tinto’s Simandou iron ore project in Guinea stands at the top of the list.

But, surprisingly, Gina Rinehart – already Australia’s richest woman – also has three projects in this top 10 list – which is the same number as Rio Tinto. These are: Hill iron ore in Western Australia, scheduled to start production in 2014, building to a rate of 55 million tonnes a year; Alpha Coal in Queensland, also scheduled to start in 2014 at a rate of 30 million tonnes of coal and year; and Kevin’s Corner coal in Queensland, scheduled to start in 2013 also at a rate of 30 million tonnes of coal.

Rinehart has built her fortune on the discoveries of iron ore in the Pilbara region of Western Australia made by her further, the notorious prospector, Lang Hancock and his eponymous Hancock Prospecting.

Speculating on the power Ms Rinehart may soon exercise in the mining industry, Clare O’Connor of Forbes magazine (22 June 2011) last week valued Hancock Prospecting at US30 billion. If the three mines, mentioned above, come into prosecution, Ms O’Connor concludes Ms Rinehart’s privately-held mining interests could be worth US$100 billion – making her not only the world’s richest woman but the richest person on the planet.

See also: http://moneytometal.org/index.php/Gina_Rinehart

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1 Comment

  1. Very interesting statistics. In fact, mining business is very profitable and it is clear why the reachest entrepreneurs are involved in mining industry.

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