What Gina Rinehart really thinks

Gina Rinehart is threatening to sell her stake in Fairfax and the mining magnate is also busy attacking climate change, foreign labour and the carbon tax.

The notoriously shy billionaire has put her views on record in a statement made to the ABC’s Four Corners program.

Rinehart’s statement essentially sets out the world according to Gina, so here at SmartCompany we’ve looked at the topics which are nearest and dearest to the heart of Australia’s richest person.

1. Rinehart on Fairfax

As the largest shareholder in Fairfax, holding an 18.6% share in Fairfax, Rinehart appears to be disappointed she has not been welcomed to the media group as ”a successful business person and a necessary ‘white knight’”.

She has threatened to sell off her stake in the company ”unless director positions are offered without unsuitable conditions”.

Rinehart is reportedly seeking three seats on the eight-member board, including the role of deputy chairman.

The Fairfax board has been resisting her push and insisting that she support the company’s charter of editorial independence, which prevents board members from interfering with the content of the journalism.

Rinehart’s statement said that if her conditions were not met, she might sell her stake and ”consider repurchasing at some other time”.

2. Rinehart on climate change

Rinehart has well-established credentials as a climate change sceptic and it was Rinehart who funded climate change denier Lord Monckton’s Australian tour.

According to the statement, Rinehart “remains concerned by the lack of understanding in the media on this issue.”

In order to “’lessen the fear the media have caused over these issues”, Rinehart suggests “the media should also permit to be published that climate change has been occurring naturally since the earth began, not just the views of the climate extremists. “

“It is a fact that there have been ice ages, then periods of global warming to end the ice ages, and these have occurred naturally, including due to the earth’s orbit, and not due to mankind at all,” the statement said.

The statement also spoke glowingly of climate sceptics Ian Plimer, a geologist, and News Limited columnist Andrew Bolt.

It said Rinehart “admires people like Ian Plimer who have independently chosen on their own accord to stand up against this tidal wave, which has caused fear, and despite substantial attacks by some of the media and extremists.”

3. Rinehart on the Ten Network

Rinehart today revealed that she had increased her share in the Ten Network to over the 10% barrier.

Rinehart bought 39.2 million Ten shares on June 19 for $19.99 million, taking the mining magnate’s stake in Ten to 10.6%, or 143.7 million shares.

Asked by Four Corners if she had used her position on the board of the Ten Network to help hire Bolt, Rinehart replied, ”It is noted that his program is very popular in country areas, yet unfortunately many country areas are unable to receive Channel 10.”

Rinehart said she “hopes that should Mr Bolt’s time permit, that he would consider a longer program on Channel 10.”



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