Mining billionaire Gina Rinehart goes green with $15m medical cannabis play

Iron ore magnate and cattle queen Gina Rinehart has added medicinal cannabis to her portfolio as she invests $15 million into the European expansion of a Perth-based company in the growing industry.

The purchase of the facility brings forward Little Green Pharma’s expansion plans into Europe by two years and will see its annual cultivation capacity go up immediately from three tonnes of biomass at its existing West Australian facility to a total of 23 tonnes of which 12 tonnes is dried cannabis flower.

“We believe medicinal cannabis has a vital role in helping to treat a range of chronic conditions, and we’re pleased to support an Australian medicinal cannabis company in Little Green Pharma that continues to put patients first and contribute to the development of this helpful and emerging industry,” he said.Little Green Pharma managing director Fleta Solomon said it was well positioned to capitalise on its brand equity in Europe and Australia with the new facility.

“We’ll keep our foot on our Australian property for longer term growth but are now able to redeploy the significant capex investment we had planned.”Medicinal cannabis is riding on a high but Ms Rinehart’s coal mining dreams in Canada have taken a hit after environmental regulators recommended the Trudeau government put a halt to the proposal for the Grassy Mountain open-cut mine in Alberta.

Alberta Energy Regulator chief executive Laurie Pushor said the panel’s decision reflected the regulator’s commitment to making evidence-based and risk-informed decisions in the public interest.

Source: News Formal (newsformal.com)

petedekruijff Maybe invest in medical coal

petedekruijff Well if you wanted to make cannabis legal in Australia this was a very good way to go about it. LNP will do whatever Gina tells them to.

petedekruijff Does she not have enough money and power? How much more do people like her need?

petedekruijff

petedekruijff Shouldnt Gina be busy robbing her children of their inheritance bequeathed by her racist father?

petedekruijff Thats right, under the LNP, only the RICH are allowed to grow cannabis, not the poor peasants in chronic pain who only want enough to survive on! FUCKING VERMIN!

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