Gina Rinehart's Hancock Prospecting Has A Lot Of Cash On Hand

Getty/Paul Kane

Hancock Prospecting had $2.9 billion in the bank as of June 2012, according to documents filed with the corporate regulator.

Jamie Freed at the Australian Financial Review also reported that Hancock prospecting had $481.6 million in listed investments, such as its stake in Fairfax Media.

Gina Rinehart’s Hancock also had $883 million of bank loans, up from $122 million the previous year.

Hancock told the Australian Securities & Investments Commission it had 70 employees and had paid salaries of $22.5 million to “key management personnel,” according to Freed. Though it employs more than 250 people if you include its subsidiaries.

Recently it reported a profit of $3.3 billion for 2012.

Business Insider Australia’s parent company Allure Media is a wholly-owned subsidiary of Fairfax Media.

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