Rinehart's Mining Empire Hit by Court Ruling

0:00It's April 15th. You're listening to Sydney News today, AI-powered local news. I'm Corey with the story. Australia's richest person, Gina Reinhart, just caught a major setback in court. A judge ruled that the family of mining legend Peter Wright deserves potentially hundreds of millions in royalties, from prime, pill-bara iron ore assets. These royalties stem from the hope-downs minds run as a joint venture between Reinhart's Hancock prospecting and Rio Tinto. The decision-crushed ownership, bits from two of Reinhart's kids, John Hancock and Bianca Reinhart, plus Wright's own descendants leaving family. Tensions high and fortunes on the line. Justice Jennifer Smith made it clear, Hancock prospecting and Rio Tinto share liability for those royalty payments to ride prospecting while Hancock holds on to its 50% stake. Reinhart's camp is breathing easy, hailing the full smack-down of those ownership grabs as totally unfounded, wrapping up a long fought battle over.

1:01Mining legacies down under.