Richest man, woman in Oz battle over mining rights

Australia's richest man Andrew Forrest and its wealthiest woman Gina Rinehart are battling over the right to mine one of the nation's largest undeveloped iron ore deposits.

Forrest's Perth-based Fortescue Metals Group Ltd said yesterday it's teamed with Cazaly Resources Ltd, which has applied for licenses over the Rhodes Ridge project in Western Australia. Rinehart's Hancock Prospecting Pty owns the mining rights in a joint venture with Rio Tinto Group and Wright Prospecting Pty.

Cazaly, which last year failed in a court bid to win control of another untapped Rio deposit, more than doubled in Sydney trading after saying it had started legal action to strip Rinehart and partners of the right to develop the project.