The billionaire’s mining company has made a generous donation after ending its relationship with Netball Australia.
Just hours after billionaire Gina Rinehart’s mining company Hancock Prospecting pulled the plug on its controversial sponsorship of Netball Australia, it donated $1 million to Seven’s annual fundraising spectacular in Western Australia for sick and vulnerable children.
In fact, in a show of financial muscle, Hancock Prospecting were the first of the night to splash the big cash for Telethon7, handing over a generous seven-figure cheque.
On Sunday, the money raised directly from the Telethon was more than $10,700,000.
Last year’s event raised a record $62 million, helping Telethon support 97 beneficiaries and various charities for disadvantaged children and almost 25,000 families.
The mining company’s donation was particularly poignant as it was agreed to by workers who dipped into their bonuses for the cause.
Earlier, Rinehart’s mining company ended its relationship with Netball Australia in a major blow to the sport’s financial future.
Hancock had agreed a $15 million sponsorship deal over four years, due to go directly to the high-performance program, with netball’s cash-strapped governing body.
The deal appeared to be a lifeline after Netball Australia (NA) suffered losses of more than $7 million in two COVID-impacted years, but it caused ructions within the Diamonds.
