Gina Rinehart Gives Rare Interview, Talks About Fulfilling Dad Lang Hancock’s Dreams And What He Would Say To The Family’s Legal Drama

Gina Rinehart has given a rare interview to talk about her father Lang Hancock’s dream of owning their own mine, as well as what he would think of her eldest children’s legal action against her. The richest person in Australia has choice words for John Hancock and Bianca Hope Hayward, who sued her for access to their $4 billion family trust.

While the Hancocks, and effectively the Rineharts as well, are synonymous to mining in Australia, the family doesn’t have full control of the industry or even their own company. When Lang discovered the world’s largest iron ore deposit in Pilbara, he needed to partner with mining giant Rio Tinto Group to develop the region. What Lang wanted, but never got the opportunity to do, was to operate his own mine. He died in 1992 without fulfilling this dream.

Enter Rinehart, his only acknowledged daughter. The mother of four started the Roy Hill project in 2011, hoping to realise her father’s dream at last. The mine, which is set to open in September, is expected to compete with the largest mining projects in the country.

There are setbacks to Rinehart’s and her father’s dream, though. First, Roy Hill has asked employees to take a pay cut to keep their jobs. With the $10 billion mining project’s labour cost eating up about 30 percent, more than 500 employees are affected by the mandate. Also, iron ore isn’t the most profitable mineral these days. The steelmaking commodity suffered its biggest single-day price drop — US$55.63 [$74] per tonne on Thursday — since March.

With Rinehart’s determination and business acumen, it is almost assured that the project will be a success, in spite of the obstacles. Nevertheless, the family is burdened with challenges within. Her two eldest children, John and Bianca, sued her over the family trust fund set up by Lang. She lost control of the trust fund late May after a judge appointed Bianca as the trustee.

In a rare interview with ABC’s “Australian Story: Iron, Iron, Iron — The Hancock Dynasty,” to be aired Monday night, the 61-year-old mining magnate had something to say about her children taking her to court. She claimed their late grandfather would not be pleased with John and Bianca’s actions.

“Dad knows how hard it is to build a company, to try and entice financiers to trust us to do the debt financing and yet, still be ‘whatevered’ by a whole lot of litigation … that’s not the sort of thing dad will be thrilled with,’” she said in the clip. “I know very well my father would have great feelings about what I have done.”

The interview also features John Singleton, a long-time friend who has come to Rinehart’s defence. Singleton recounted how Rinehart played the role of his nurse when he had a cardiac arrest, calling her his Florence Nightingale. He also sang her praises, saying she made her father’s dreams come true, as well as defending her from the media, which had been critical of her from the beginning.

Imelda Roche, another friend of Rinehart, agreed. “It puzzles me why Australia doesn’t take more pride in her achievement.”