Sydney: Gina Rinehart could soon become the world's wealthiest woman after amassing an $18 billion (Dh66.1 billion) fortune from mining and media investments, Forbes magazine says in its latest list of the wealthiest people in Australia.
The 57-year old widow saw her fortune almost double after a deal signed last month that will see South Korean steel giant Posco take a 15 per cent stake in her Roy Hill iron ore mine in Western Australia's Pilbara iron belt.
Expansion plans
The deal valued the project at $10 billion, boosting Australian Rinehart's fortune dramatically. In the next few years, Rinehart also has plans to expand her iron ore operations and develop two coal collieries.
If commodity prices hold up, Rinehart could challenge Christie Walton, worth $24.5 billion, as the world's richest woman, Forbes said.
Walton is the widow of John Walton, one of the sons of Sam Walton, the founder of retail chain Wal-Mart Stores.
