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Rinehart seals $1.26B Galilee deal

AUSTRALIA'S richest person Gina Rinehart will expand her fortune after landing a $US1.26 billion ($A1.22 billion) deal to offload stakes in her Galilee Basin thermal coal tenements in Queensland to Indian infrastructure group GVK.

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Rinehart seals $1.26B Galilee deal

The long-mooted transaction between GVK and Rinehart’s private company Hancock Coal came in lower than earlier expectations of $2.25 billion but significant rail investment is needed to commercialise opportunities...

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