Mining magnate Gina Rinehart chose a fellow billionaire to be the recipient of a $50,000 prize for services to the resources industry.

Rinehart, Australia’s richest person, offered the $50,000 prize at the Association of Mining and Exploration Companies conference in 2012, to be awarded to the person who best supported mining against “far left or non-understanding media attacks”.

According to the Australian Financial Review, the money was belatedly awarded to Len Buckeridge, a Western Australian billionaire. Buckeridge ran an eponymous construction firm and was lauded by the WA premier, Colin Barnett, as one of the state’s “great characters” following his death in March, aged 77.

Buckeridge’s wealth was estimated at around $1bn at the time of his death, although this figure is dwarfed by the near $19bn fortune estimated to have been amassed by Rinehart through her company, Hancock Prospecting.

Buckeridge was chosen for the $50,000 prize due to his “long-term contribution to the sector”, with $30,000 of this total required to be used for “standing up” for the mining industry.

The prize was finally dished out last year. A spokesman for Hancock Prospecting told Guardian Australia: "Mr Buckeridge delivered a great acceptance speech and was very happy with the award.There was stiff competition in the judging. Mr Buckeridge received the cheque and award at the event.

"This year, the award will be presented again on 22 November at the Mining and Related Industries Day, which we are very proud to support. This year's luncheon will be held in Darwin."

Although Rinehart announced the award at the AMEC conference, the award is not linked to the mining organisation, it said. “It was a separate award to the AMEC awards, which include a media award and a prospector award,” an AMEC spokeswoman told Guardian Australia.

Rinehart has been a vocal defender of the mining industry, which she views as being essential to the economic wellbeing of Australia. In March, she attacked Australia’s “entitlement mentality” and claimed that the costs faced by the mining industry have become too onerous.



"While governments count on mining and mining related industries being prosperous, it's important that all of this is understood in the context of the need to cut the burdens of wasteful government spending, taxes, regulations and approvals – and not just talk about it," she said.