Gina Rinehart's Hancock Prospecting will have to make a multimillion-dollar payment to Wright Prospecting after the latest round in the legal battles between the billionaire descendants of two giants of the Australian iron ore industry.
A judgment handed down in West Australian Supreme Court on Thursday means Hancock Prospecting will pay the lion's share of legal costs relating to a dispute over ownership of the high-grade iron ore deposit Rhodes Ridge in the Pilbara.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
