Group Executive News

Discover the latest news and updates from Hancock Prospecting Group.

Iron ore price boom expected to send more royalties into WA’s coffers as year end approaches

WA’s budget surplus is climbing towards $4 billion as iron ore stretches its unexpectedly strong run into the last quarter of the financial year, potentially pumping another $800 million into government coffers.

RESOURCES SECTOR CONTINUES TO LEAD

WA’s booming resources sector reported record sales of $174 billion in 2020, underpinned by a $116b contribution from the State’s thriving iron ore industry .

Happy Easter to all!

Happy Easter from the team at Atlas Iron!

Iron ore boom, strong labour market ease budget woes

Australia is set to reap a budget windfall from booming iron ore prices and a stronger than expected economy and labour market, with a leading economist predicting a massive improvement over the government’s forecasts in its Mid-Year Economic and Fiscal Outlook in December.

Mine export surge holds up economy

A record $296 billion in forecast resources and energy exports this year is turbocharging Australia’s economic rebound from the COVID-19 downturn and will help offset the withdrawal of the federal government’s JobKeeper wage subsidy.

RESOURCES HIT $296B RECORD

Australia’s resources sector will again break export earnings records this financial year, underpinned by another record high in annual income from WA’s powerhouse iron ore industry.

Iron ore to drive $136bn windfall

Booming iron ore exports on the back of a global economic rebound linked to stimulus measures and supply shortages following the COVID-19 pandemic are expected to drive Australia’s resources and energy exports to a record $136bn.

World’s richest woman warns of iron ore crash

Gina Rinehart’s right-hand man is on the hustings with a stark warning:

Australia’s economy is more reliant on iron ore than ever

Article by Greg Jericho courtesy of the Guardian: It is great for our economy, but it also means Australia’s economic base has become very narrow.

Western Australian’s budget outpaces rest of the world

Western Australia has recorded the best budget performance in the world through the pandemic, underpinned by a boom in mining royalties that have shielded the state’s bottom line from the worst recession in nearly a century.

WA’s economy best in world during COVID-19 pandemic

WA’s economy has boomed to be the best in the world during the COVID-19 pandemic.

Happy International Women’s Day 2021

International Women's Day 2021 message.

Australia posts record $10b trade surplus in January as iron ore exports boom

Australia has posted the biggest monthly trade surplus in history on the back of record iron ore exports, as the economy continued to rack up new markers in its rebound from last year’s deep recession.

Trade surplus reaches ‘historic’ $73bn in 2020 as iron ore sales boom

Australia’s trade surplus reached a record $73bn in 2020, propelled by surging iron ore sales and a slump in demand for imported goods through the COVID-19 crisis.

Iron ore set to deliver $1.5b bonus

Article by Josh Zimmerman courtesy of the West Australian WA is on track to bank nearly $1.5 billion more in iron ore royalties than the McGowan Government predicted just weeks ago – a windfall that would nearly double the State’s forecast surplus to an incredible $3.7 billion. The steel-making commodity has so ...

Drilling deep for support

Article courtesy of Joondalup Times A MINING contractor has given one of its machines a pink makeover to raise funds for Breast Cancer Care WA. Ranger Drilling painted Drill Rig 5, which operates at Roy Hill, bright pink in its efforts to raise $50,000 for the charity by the end of January. ...

Reflections on a lifetime in the mining sector | Why does Australia need mining?

Reflections on a lifetime in the mining sector Ron Manners AO I often remind people that the industry of mining exploration and production is the most creative industry in the world. We often forget this. It is true because you start by going out-back where there is nothing. The terrain ...

Newmont boss says rest of world copied Aussie miners on virus

Article by Brad Thompson courtesy of the Australian Financial Review The boss of the world’s biggest gold multinational credits Australian miners for keeping the domestic economy strong through COVID-19 and showing the rest of the world the way forward. Newmont president Tom Palmer said the protocols introduced by the ...

Mrs Gina Rinehart’s Speech 2020

National Mining and Related Industries Day

‘Cut the red & green tape’

Article by Josh Zimmerman courtesy of the Sunday Times, Perth AUSTRALIA’S richest woman has warned the nation’s vital resources and agriculture industries are being strangled by red and green tape, threatening the future viability of both. In a pre-recorded speech to commemorate National Mining Day today, Gina Rinehart ...

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