Gina Rhineheart, already Australia’s richest person, has nearly doubled her wealth after her company, Hancock Prospecting, sold a 15 per cent stake of its Pilbara Roy Hill project to South Korean steel giant Posco.

 

Ms Rhineheart, who topped last year’s BRW Rich List at $10.3 billion, now has an estimated personal fortune of $20 billion.

 

Ms Rhineheart also announced Hancock will continue to contribute significant equity to assist in the development of the site, which is expected to take six months to mature into export capacity.