Group Executive News

Discover the latest news and updates from Hancock Prospecting Group.

Koch gets down to business

Sunrise host and business expert David “Kochie” Koch says WA “punches above its weight” when it comes to innovation. The leaders will be discussing the future of the resources workforce. “I’m looking forward to delving into how they’re re-engineering their businesses for this global environment,” Koch said.

Military and Emergency Services Civilian Career Summit | Perth Convention Centre

Supported by Atlas Iron, RSL WA & Working Spirit is hosting their 9th Military to Civilian Career Summit in Perth on 24th March. Open to current serving looking at transition and veterans wanting to pivot careers, and also the first time that the event is also open to emergency response veterans.

Atlas Iron celebrates International Women’s day

Today, on International Women’s Day, Atlas Iron celebrates all of our female employees and recognises the skills and talents they bring to our business. We are exceptionally lucky to have a role model in our Executive Chairman, Mrs Gina Rinehart, who has shown us how determination, drive and perseverance can lead to great things. Atlas Iron works to continually improve our workplaces, create an inclusive culture and give all our employees, female and male, equal opportunities.

Happy International Women’s day

2023.

Ian Henschke Chief Advocate for National Seniors Australia emphasises that the work bonus for pensioners should just be the beginning of national reforms | A Current Affair

Ian Henschke from National Seniors Australia. I think we need to recognise that we've got a jobs crisis in Australia, 450,000 plus jobs going begging and we've got 4.5 million Australians over 65. Ian says the work bonus should just be the beginning of major reforms in the system. He'd like to see Australia follow in the footsteps of New Zealand, where pensioners can work as much as they like without losing benefits. New Zealand has a workforce participation rate of 71%, we've got 66%, they've got 5% more of their population working and most of it is older workers. That's where they're getting their workforce from. Let's take the handbrake off the economy and let those pensioners work and let those retirees work.

Let people work | By Ian Henschke | Chief Advocate National Seniors Australia

AUSTRALIA is facing a workforce crisis it’s never seen before. Job vacancies are approaching half a million, dragging business and economic growth down and fuelling a cost-of-living crisis. The hardest hit sectors include agriculture, hospitality, mining, tourism, and the caring industries. The Federal Government has raised the yearly permanent migration quota by 35,000 - but workforce shortages are not going to be solved by immigration alone. We need to boost participation and support people with limited income and savings to earn more. We also need to boost tax revenue to pay for health, aged care, and other social services. To fix these economic and socioeconomic challenges we must “let people work”.

Mrs Rinehart christens latest Oldendorff vessel

The newest Oldendorff Carriers capesize vessel has today been christened “Gina Oldendorff” after Mrs Gina Rinehart AO, who had the honour this morning of christening the huge ship, in the traditional way, with a bottle of champagne. Oldendorff carried the first shipment of iron ore from Roy Hill in December 2015, and since then has carried more than 46.6 million tonnes of Roy ore over 244 shipments, as well as shipments from Atlas. Today’s special occasion marked the valued and friendly relationships extending over years between the companies. Mrs Rinehart when christening the ship wished the vessel and all its crew many safe journeys, and many happy returns.

Rinehart gives away millions to workers in birthday raffle

Australia’s richest person is set to give away 41 prizes in all, or $4.1 million, with about 4000 workers spread across her private company’s mining, energy and agriculture divisions in the running“The mining industry pays by far the highest wages in Australia, close to double the average in other industries. Why would we risk this vital industry for our nation by reintroducing an unhelpful system that didn’t work the last time we had it?” Mrs Rinehart said in a recent response to questions from The Australian Financial Review.

McGowan must fly flag for WA

Once again, just like it did during the global financial crisis, the dirt and rocks buried in the Big State provide a lucrative windfall that continues to make our economy the envy of the world. McGowan’s public purse is bursting at the seams thanks to our resources sector, a little fact he might want to keep in mind when the industry needs him as they battle against his mate Anthony Albanese.

Rinehart reaps $2.3b dividend from Roy Hill

Gina Rinehart’s flagship mining company Roy Hill Holdings will add another $2.31 billion to what is already Australia’s biggest fortune despite weaker iron ore prices impacting her flagship iron ore mine. Atlas Iron delivered a $225 million maiden dividend to Hancock Prospecting, the first since Mrs Rinehart prevailed in a three-way battle with Andrew Forrest’s Fortescue Metals Group and Chris Ellison’s Mineral Resources for control of the then ASX-listed miner in 2018.

Business community warns Labor’s IR laws will result in 1970s-style strikes and job chaos

“Businesses will carry a much heavier regulatory burden which inevitably leads to less productive workplaces. It is not a long term recipe for wage growth, it is the opposite.” WA’s mining giants including Gina Rinehart’s Hancock Prospecting and Rio Tinto have been among the most vocal critics, saying there was no evidence the reforms backed by unions would create real wages growth or boost productivity.

Rio Tinto: Albo’s plan a handbrake on wages & economy

The Federal Government wants to pass legislation for the overhaul, including controversial measures increasing access to multi-employer bargaining, through the Parliament before Christmas. Mr Trott's comments come a day after Gina Rinehart's Hancock Prospecting warned forcing multi-employer bargaining on to the mining sector would jeopardise billions of dollars in future royalty and tax revenue for WA.Hancock Prospecting chief executive Garry Korte said a sixweek strike at Port Hedland would cost $9 billion in lost iron ore export revenue.

How mining dominates the economy (in seven charts)

Australia’s big miners including BHP, Rio Tinto, Fortescue and companies controlled by Gina Rinehart paid more than $28.5 billion in tax in 2020-21, accounting for nearly a third of total corporate tax revenue.

Cult-of-victimhood – Netball Australia vs Gina Rinehart

Those who engage in identity politics and demand that the world bend to their whims due to their supposed victim status, often end up shooting themselves in the foot … Those who define themselves, not by some past injustice, but by their present potential, are best able to grasp opportunities to build a better future.

NMDC in talks to pick up stake in lithium mines in Australia

NMDC’s Perth-based subsidiary, Legacy Iron Ore, has entered into a joint venture with a prospecting company, Hancock Prospecting , for development of iron-ore mines at Mt Bevan iron ore project owned by Hawthorn Resources and Legacy Minerals. Prospecting activities there include exploration and mining of rare earth and other critical minerals such as copper, tungsten, cobalt, nickel and lithium.

Taking flight with the power of words

Article courtesy of Australian Mining Magazine | September 2022

Do we fill job vacancies with pensioners or migrants?

Article by Cian Hussey. 19 August 2022.

AGE PENSIONERS KEY TO SOLVING AUSTRALIA’S LABOUR CRUNCH

Perhaps the single best option for tackling these issues is to provide an unlimited work bonus which would allow pensioners to earn as much as they want from work and just pay income tax like everyone else. This is not to suggest a universal pension — eligibility would still be subject to an assets test and other income tests — but to give pensioners greater freedom to work if they choose to. It will give greater freedom and prosperity to pensioners who choose to work, it will increase revenue from the tax on additional income earned, and it will provide immediate relief to businesses across Australia struggling with worker shortages.

SKILLS SHORTAGE CONUNDRUM

Australia has half a million jobs up for grabs but is finding it near impossible to fill most of them. The Prime Minister’s $5.4b plan to make child care cheaper for families also forms a central part of his strategy to address the skills shortage. But Mr Albanese is also facing calls to encourage pensioners to return to the workforce. New Liberal leader Peter Dutton has pressed the Albanese Government to allow pensioners to earn more money without seeing their pensions being cut back — borrowing an idea championed by WA mining magnate Gina Rinehart and rejected by the Coalition. Currently pensioners can earn $300 a fortnight before their pension payments are reduced, but Mr Dutton wants the income threshold to be increased to $600.

AGE-OLD RULES NOT WORKING

Estimates from Deloitte Access Economics have a 5 per cent rise in the number of over-55 s in the workforce as boosting national gross domestic product by $48 billion. The idea has long been championed by WA mining billionaire Gina Rinehart, pictured right. Mr Dutton confirmed conversations with Mrs Rinehart had helped inform his stance. Mrs Rinehart said she applauded Mr Dutton “for the leadership he has shown on this issue”. “I would encourage the Government to not only consider the benefits to the department of eliminating pensioners’ paperwork but the revenue generated from additional income tax … and businesses then able to generate more taxable profits,” she said. Mrs Rinehart wants the Government to go further than Mr Dutton’s policy however, by eliminating any upward limit to what pensioners can earn, “and just let them contribute like other Australians by paying income tax” .

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