Pioneer of the
Australian Iron Ore

Australia’s richest person Gina Rinehart is giving away $100,000 bonuses to workers to mark her 41 years at her company

Article courtesy of the Daily Mail Australia.

Australia’s richest person Gina Rinehart will hand out another $4.1million in bonuses to employees of her mining company as she marks 41 years at the firm.

Ms Rinehart will give 41 Hancock Prospecting staff members $100,000 each this week, with a raffle to determine the lucky recipients.

The event will also mark Rinehart’s 69th birthday on Thursday, The West Australian reports.

The mining mogul – estimated to be worth about $30billion – dished out $1million in bonuses just weeks earlier in a Christmas draw.

Gina Rinehart (pictured) will hand $100,000 bonuses to 41 Hancock Prospecting employees
Rinehart (pictured with Hancock CEO Garry Korte) owns a 70 per cent share of Roy Hill Mine
The multi-billionaire will hold a raffle to determine the lucky recipients and mark her 41st year at the mining company (Rinehart pictured centre at Roy Hill in the Pilbara region, WA)

One worker who scored a $100,000 bonus on that occasion had worked at the company for just three months.

Hancock Prospecting employees also have the chance to make some extra cash through the Chairman’s Profit Share.

The scheme hands workers bonuses, capped at 30 per cent of their salary, depending on how the company performed that year.

The company’s billion-dollar mega iron ore operation, Roy Hill Mine, made a staggering $3.3billion profit last year.

Of that, Rinehart’s 70 per cent stake in the mine means she collected $2.3billion in dividends.

The rest of the company is owned by Marubeni Corporation which has a 15 per cent share, then POSCO with 12.5 per cent and China Steel Corporation with 2.5 per cent.

Last year’s profit was a 28 per cent drop compared to the previous financial year due to low iron prices and failing trade relations with China.

Rinehart has thanked her workers for ‘another great year’ and said all of Australia benefits when her mine thrives.