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Rinehart spending $393m on UK fertiliser

AAP logoAAP 25/10/2016

Gina Rinehart is spending $US300 million ($A393 million) for a stake in the UK's natural fertiliser industry.

Ms Rinehart's Hancock Prospecting is taking a $US50 million stake in London-listed Sirius Minerals and paying $US250 million for a five per cent royalty stream - eventually falling to one per cent - of the potash from a new mine in Yorkshire.

Hancock will have the right to purchase as much as 20,000 tonnes of product per annum for use on its Australian agricultural operations, which could include the Kidman cattle properties if her $A370 million bid for the company is successful.

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