News Articles for VOC Group

Mitsui's new stake in Rio Tinto's Rhodes Ridge iron ore project has unlocked $10 billion in wealth for the heirs of Peter Wright, pushing Angela Bennett into fifth on our Rich List.

Japanese trading house Mitsui & Co will take a US$5.3 billion stake in Rio Tinto's 6.8 billion tonne Rhodes Ridge iron ore project in the Pilbara.

Perth company Wright Prospecting has reported another massive profit as its low-key owners reap the benefits of an iron ore royalties deal negotiated more than 50 years ago.

Perth's super-rich Wright family has reaped a further $235 million in profits from iron ore royalties, but the most revealing number in their family company accounts was the big spend on lawyers.

Virtually unknown in WA a decade ago, the family office has become an established niche.

Cottesloe is home base for many in the investment world.

Privately-owned Perth company Wright Prospecting has posted yet another extraordinarily large annual profit as it reaped the benefits of the booming iron ore market.

Ian Cochrane, one of Perth's most respected corporate lawyers and company directors, has passed away. Aged just 67 years, Mr Cochrane had been battling cancer for nearly two years.

Wright Prospecting has continued to generate huge profits and dividends for its low-profile Perth owners while also revealing a board restructure after the retirement of chairman Ian Cochrane.

Julian Wright has commenced legal action in the Supreme Court, claiming he was defrauded when he sold his share of the family company to his siblings, 'rich listers' Angela Bennett and the late Michael Wright.

Perth-based Wright Prospecting has confirmed its status as one of the country's most profitable companies, lifting its annual earnings on the back of higher iron ore prices and paying a whopping $172 million dividend to its owners.

The descendants of iron ore pioneer Peter Wright have received total dividends of $702 million over the past three years, according to recently lodged financial statements that also reveal the big legal expenses they have paid.

Brian J Rear has resigned as a director of Horseshoe Metals.

Energy giant Woodside Petroleum has bolstered its board with the appointment of a former Shell executive, while Dacian Gold has welcomed a prominent lawyer to its board.

Former corporate lawyer Ian Cochrane has joined the board of Ausdrill as deputy chairman, adding to a suite of board positions on the private companies of some of Perth's wealthiest families.

The third daughter of late mining heir Michael Wright has succeeded in her bid to extract much more than she was left from his will, with a judge ruling she should get $25 million.

Some of Perth's top company directors and dealmakers, including Michael Smith, Ian Cochrane, Michael Ashforth and Tony Iannello have been recruited to help run prominent family companies.

Our inaugural Business Dynasties feature analyses WA's oldest family businesses, including some that have been running for more than 100 years, profiles Bob and Gavin Bunning 20 years after their family business was bought by Wesfarmers, and looks at the role of ‘outsiders' like Neil Hamilton, Michael Smith and Ian Cochrane in some of WA's most notable family enterprises. Also, see our new WA Business Dynasties list.