Full Story Gina: Like father, like daughter – episode 2
Dec 22, 2025
In this discussion, Michael Yabsley, a former political adviser, shares his fascinating insights on Gina Rinehart's political maneuvers, stemming from her father Lang Hancock's legacy. He paints Gina as a complex figure, both driven and controversial. Ken Henry, a former Treasury Secretary, elaborates on the Resource Super Profits Tax and its disastrous political fallout. The conversations delve into how Gina's early experiences and her father's strategies shaped her approach to influencing politics, culminating in the modern mining lobby's challenges.
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Discovery Flight That Built A Fortune
- Lang Hancock's discovery flight found high-grade iron in the Pilbara after forcing a plane through a gorge in 1952.
- He traced the deposit for miles, took samples and realised it was commercially valuable.
Embargo Blocked Ore Until Lobbying Broke It
- An export embargo from 1938 blocked private development of Australian iron ore until the 1960s.
- Hancock's persistence and lobbying were crucial to unlocking the Pilbara's economic value.
Royalty Deal That Yielded Massive Wealth
- Hancock struck a deal with Rio Tinto in 1962 securing a 2.5% royalty without a sunset clause on Mount Tom Price.
- The royalty paid massively as Rio exported vast quantities of iron, making Hancock extremely wealthy.