Peter Wright (mining entrepreneur)

Ernest Archibald Maynard "Peter" Wright
Born	1908-02-24 Kalgoorlie, Western Australia, Australia
Died	1985-09-13 Bangkok, Thailand
Occupation(s)	Mining industrialist, businessman, accountant
Known for	Business collaboration with Lang Hancock; co-founder of Hanwright; founder of The Sunday Independent (Perth)

Ernest Archibald Maynard "Peter" Wright (24 February 1908 – 13 September 1985) was a prominent Australian mining industrialist, widely recognized for his business collaboration with Lang Hancock. Upon his passing, his estate was valued at more than one billion dollars.

Early life and education

Wright was born in Kalgoorlie to parents originally from Victoria. His family relocated to Perth during his early years, where he attended multiple educational institutions, including Hale School, though he did not complete his studies there. In 1932, he wed Pauline McClemans, whose father, William McClemans, established Christ Church Grammar School.

Business career

Following his departure from formal education, Wright commenced work at the Bank of New South Wales. He earned his accounting qualification in 1930 and subsequently founded his own accounting practice. By 1938, he had risen to the position of general manager at F. W. Wright & Co, his father’s company, and in 1949 became managing director when it was restructured as Wright Ltd.

During the late 1930s, Wright formed a mining partnership with his former school friend Lang Hancock, operating in north-west Western Australia under the name Hanwright. Their initial ventures included an asbestos mining operation at . In the 1960s, Hanwright secured an agreement with Rio Tinto granting them a 2.5% entitlement on all iron ore royalties derived from their Pilbara discoveries.

In 2023, legal proceedings were initiated by Wright's heirs in the WA Supreme Court, representing Wright Prospecting in a dispute against Hancock Prospecting. The conflict concerns the allocation of Hanwright’s assets and claims to half of the 2.5% royalty interest—approximately 1.25% of earnings—potentially valued at hundreds of millions of dollars. Wright Prospecting also asserts that the Hope Downs mines numbered 4, 5, and 6 constitute joint Hanwright holdings worth billions.

In 1969, Wright and Hancock established The Sunday Independent, a weekly newspaper based in Perth intended to promote their mining ventures. Hancock withdrew from the publication in the early 1970s; Wright retained ownership until he sold it in 1984 to the proprietors of The Truth.

Death and legacy

Wright passed away in 1985 while en route from Europe to Perth, dying in Bangkok, Thailand. His remains were cremated at Karrakatta Cemetery.

That same year, Business Review Weekly (BRW) appraised his net worth at 50 million dollars. By 2013, the wealth of his family had escalated to approximately 1.53 billion dollars, primarily fueled by royalty agreements established with Hancock during the 1960s. These agreements entitled them to receive 2.5 percent of revenue from Rio Tinto's Hamersley Iron operations. , Wright’s daughter, Angela Bennett, was estimated to have a net worth of 4.63 billion dollars, while granddaughters Alexandra Burt and Leonie Baldock were valued collectively at around 3.85 billion dollars.