Rinehart company faces $178,000 fine
Billionaire Gina Rinehart's Hancock Prospecting is facing fines totalling more than $178,000 after the company allegedly failed to lodge annual reports.
The crown alleges that Hancock Prospecting and two related companies, Hancock Minerals and Hope Downs Iron Ore, failed to lodge annual financial reports within the mandated four month period between 2008 and 2012.
The companies face 13 counts related to breaches of corporations law.
Each offence carries a maximum penalty of $13,750 or a total of $178,750.
The matter has been adjourned to Perth Magistrates Court for mention on May 14.
Mrs Rinehart, Australia's richest person, recently secured an $8 billion debt funding package to complete her Roy Hill iron mine, rail and port project.
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