INTERNATIONAL COAL NEWS

Coal's richest men

KEN Talbot, Ric Stowe, Alex Krueger, Anthony Poli and Tony Haggarty have all made a fortune from ...

Staff Reporter

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The list gives the top 100 investors in the Australian resources industry (compiled largely from director and manager filings lodged by companies listed on the Australian Securities Exchange) as at November 15, 2007.

Coal lies behind the wealth of the second largest category on the list with 16 members, led by Queensland coal king Ken Talbot - with $A664 million and in sixth place - and the man who controls most of Western Australia's coal, Ric Stowe - with $600 million and in ninth spot.

The list reveals the top 10 investors in the Australian resources industry have a combined net worth of approximately $17.5 billion.

Iron ore heiress Gina Rinehart holds the number one spot on the list with an estimated wealth of $5.5 billion.

While Rinehart, the Perth-based owner of Hancock Prospecting, rode her inheritance to the top of the Australian Resources Rich List, it has been fellow iron ore tycoon Fortescue Metals CEO Andrew Forrest who appears to have benefited the most since the list was prepared.

It is believed his estimated wealth of $5.4 billion has increased to more than $7.5 billion, which would have him top of the list if compiled today.

The iron ore sector tops the list providing 19 members.

This list is compiled largely from director and manager filings lodged by companies listed on the Australian Securities Exchange. Some estimates of private wealth are based on research by other publications. Many members of the RESOURCESTOCKS rich list have interests in more than one company and one commodity and in some cases the wealth is in two names. Space precludes listing all of those interests. The wealth estimate is a gross number and makes no allowance for debt, tax, or possible claims by family members on an individual's wealth. This list is a snapshot. It is not, and can never be, 100% accurate, but it does provide an insight into the wealth being created by the resources sector which is benefiting all Australians.

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