Schultz was a 'courageous man': Rinehart

Mining billionaire Gina Rinehart has offered her condolences to the family of retired NSW federal Liberal MP Alby Schultz, who died on Tuesday.

She said Mr Schultz was a "courageous man" who was true to his country, his values and beliefs and a truly wonderful friend.

"Alby was a patriot, a fighter, always unafraid to stand up for what was right. He will be incredibly missed, including by me," she said in a statement on Wednesday.

Labor's finance spokesman Tony Burke described Mr Schultz as a "fearless" member of parliament and one of its greats.

Mr Burke said that when he was agriculture minister in the Labor government he built a very strong relationship with Mr Schultz, who was a great voice for country Australia.

"While he was on the other side of the aisle he is somebody who I've always had the deepest level of respect for," Mr Burke told reporters in Sydney.