Group Executive News

Discover the latest news and updates from Hancock Prospecting Group.

WA premier Mark McGowan hikes port fees on iron ore miners BHP, Fortescue, Roy Hill

Mr McGowan on Monday announced that WA had delivered a $2.36 billion operating surplus for the first nine months of the current financial year, due primarily to the surge in iron ore prices. WA is the only jurisdiction in Australia running an operating surplus.

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Ore tax props up a nation

WA’s booming iron ore industry contributed nearly one-fifth of total company tax paid across the whole of Australia last year — about $15 billion — keeping the nation on its feet in the face of a devastating pandemic.

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Pilbara iron ore powering Australia’s economy

“I congratulate our iron ore sector for its strength, reliability and resilience during the COVID-19 pandemic, and for its continued support of Australia’s economy,” Minister Pitt said.

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New figures show mining sector powering the economy

“These changes will transform the NAIF to make it a more proactive investor in projects that will generate economic activity and job creation,”

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Miners deliver record $39bn windfall to boost government bottom lines

“Australia’s minerals industry paid record taxes and royalties to federal, state and territory governments in 2019-20 even as the COVID-19 pandemic started to push the economy into recession,”

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Resources sector boosts federal budget spending spree

The mining industry exceeded government expectations in its tax receipts, accounting for 30 per cent of company tax collections, which is forecast to reach $100.5 billion by 2024-25.

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Surging iron ore prices a ‘get out of jail free card’ for Morrison and Frydenberg

Accenture Managing Director Andrew Charlton says a recent surge in iron ore prices is a “get out of jail free card” for Scott Morrison and Josh Frydenberg

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THE IRON GIANT

Booming iron ore exports are supercharging Australia’s pandemic recovery, helping to deliver the Federal Government a company tax windfall this year that’s almost $9 billion higher than forecast.

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News Australia’s iron ore boom: Investors profit as global economy recovers

It is one of the most isolated major cities on earth, boasts some of the world’s finest beaches and is mercifully Covid-19 free. But Perth – which straddles the banks of the Swan River on the shores of the Indian Ocean – has another key attraction. The sun-drenched city is the ...

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Iron ore is saving Australia’s trade with China. How long can it last?

Now, one commodity is almost single-handedly keeping the trade relationship afloat: iron ore.

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IRON ORE GIVES BUDGET BOOST

Australia’s Budget bottom line is recovering faster than expected, driven largely by the strength of WA’s iron ore sector, with analysts now suggesting it could be back in surplus within four years.

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WINDFALL FROM BOOM IS A BUDGET GODSEND

IRON ORE PASSES RECORD $200/T

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Iron ore boom to bolster Frydenberg’s war chest by $36b

Roy Hill founder Gina Rinehart made an early start on the dividend bonanza with a $1.35 billion first-quarter distribution to shareholders this month, while Fortescue is tipped to pay a total of $9.5 billion of dividends in the year to June 30.

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Budget driven by WA

The sector is not only pumping royalties and taxes into government coffers and wages into the pockets of its workers and related occupations, it is also a big part of employment growth.

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New high for iron ore a boost for Australia’s resources sector

Media Release of The Hon Keith Pitt MP, Minister for Resources, Water and Northern Australia. Global iron ore prices have hit record highs, surpassing the previous record from a decade ago and providing a welcome boost to Australia’s resources sector as the world recovers from the impact of the ...

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Iron ore gives Budget boost

Australia’s Budget bottom line is recovering faster than expected, driven largely by the strength of WA’s iron ore sector, with analysts now suggesting it could be back in surplus within four years.

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Anzac Day 2021

May our government understand, we need to better serve, those who defend or have defended and served our country.

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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.

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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 .

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