June 14, 2024

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The Legal System

Gina Rinehart, Andrew Forrest and Kerry Stokes (Images: AAP)

which billionaire looks to the future?

While some of the nation’s richest are investing in minerals crucial to renewables technologies, others are still obsessed with fossil fuels.

Gina Rinehart, Andrew Forrest and Kerry Stokes (Images: AAP)
Gina Rinehart, Andrew Forrest and Kerry Stokes (Images: AAP)

In Perth, the city’s three leading billionaires — Gina Rinehart, Kerry Stokes and Andrew Forrest — are indulging in a bit of financial oneupmanship that says a lot about Australia’s energy transition, as well as the negative or positive role the super-rich are playing in it.

Looking ahead

Media reports at the weekend suggest iron-ore billionaire Forrest likes the look of Chalice Mining’s world-class Julimar nickel, copper, platinum, palladium, gold and cobalt prospect northeast of Perth, and is trying to get his hands on a sizeable chunk held by former chair Tim Goyder. Goyder stepped down as Chalice’s chair 14 months ago and mid-year sold $30 million in company shares after buying a house in exclusive Peppermint Grove for $17 million.

Chalice’s Julimar prospect has massive potential in a world of accelerating renewable investment. A massive strike at Gonneville has revealed the biggest sulphide nickel find in the world this century and the biggest discovery of palladium, platinum and gold (called a 3E combination) in Australian history.