Group Executive News

Discover the latest news and updates from Hancock Prospecting Group.

Australia Medals | Olympic Games Tokyo 2020/21

10 August, 2021.

Grants and gold medal bonuses: Here’s how Australian Olympic athletes earned their way to Tokyo

Some of Australia’s most accomplished swimmers also have the benefit of private sponsorship. Gina Rinehart, Australia’s richest person and the executive chairman of Hancock Prospecting, is behind a quarterly grant of up to $8,000 for Olympic hopefuls. The financial support “allows them to focus on their training and performance and not be distracted by financial pressures that most athletes face,” Swimming Australia states. The same program also provides an incentive pool of $170,000 for medalists and top-eight finishers. Australia’s top rowers have also benefited from Rinehart’s sponsorship. The Australian reports the mining magnate has underwritten a $525-a-week wage for the nation’s top 50 rowers in both the men’s and women’s competitions. That support has been “profound” and “game changing,”

MAKE BRISBANE SHINE

But Ms Rinehart warned that in the lead-up to Brisbane hosting the world’s biggest sporting event in 2032, governments needed to cut red tape to ensure teams and facilities were ready in time. “I hope our governments now take the bit between their teeth and realise 10 years time is a relatively short time to prepare Queensland for the Olympics, and grasp this opportunity to ensure Queensland shines,” she said. “To do this we must cut government tape to welcome significant investment and businesses, improve airports, improve marinas, build exciting new tourist facilities and accommodation, to really show Queensland and Australia as a must-repeat visit destination.”

Mel Little commentary courtesy of Territory FM

9 August, 2021.

An Olympics like none before

Now that Brisbane has secured the 2032 Olympics, the federal government will be under pressure to ramp up funding for sport to try to overhaul the 58-medal haul at Sydney in 2000. There will be commercial benefits for some of our gold medallists. Yet, as we reported on Saturday, 11 of Australia’s gold medallists received financial support from the nation’s richest person, iron ore magnate Gina Rinehart. A prosperous economy and a strong civil society are critical to Australia’s success across all walks of life.

Golden dreams and minor medals with meaning

Little old Australia. Punching above its weight. Population, a mere 25 million. Cut off from the world by Covid-19. Fighting just to get to the Olympics. Winning a record-equalling 17 gold medals. Little old Australia. What an eclectic group of winners. The swimmers. A BMX bandit. Canoeists. Sailors. Rowers.

How a perfect storm of Covid, Gina’s billions and a delayed Games propelled Australia to our equal best games result EVER

And Australia's Golden Girl of the Tokyo Olympics is… Gina Rinehart. Yeah, yeah, I know. Ariarne Titmus, Emma McKeon and Kaylee McKeown did pretty well too, but they couldn't have done it without Gina's help. Australia's richest woman, with $30 billion in the kick, was one of the major reasons these Games have been the best for Australia since, well, ever

Olympic Games Tokyo 2020/21

23 July 2021 – 8 August 2021

A letter from Vince Raleigh

Your generous involvement in swimming and other sports has been more important than many will ever understand. From someone who has been involved in this sport over a long period of time your backing has been transformational and the credit you receive cannot be understated!

Gina Rinehart goes for gold: Australia’s $10m Olympic secret weapon

Olympic legend Dawn Fraser wishes billionaire Gina Rinehart was around when she was at the peak of her swimming career. Fraser, who famously won gold at three Olympics, considers “Mrs Rinehart” to be one of the secret weapons behind Australia’s success at the Tokyo Games, where the country’s athletes have won the most gold medals in history. The mining magnate is one of Australia’s biggest Olympic fans and contributes up to $10m annually to four Olympic sports: swimming, rowing, volleyball and artistic swimming.

How Gina Rinehart ‘saved swimming’

But as Australia digests the week that was and contemplates how to better it, it’s worth pointing out that 11 of the 17 gold medals and one bronze came in disciplines in which the living costs of athletes were not covered by their sporting organisations or government funding, but were paid for by one benefactor alone: the country’s richest person, Gina Rinehart.

Rinehart shows we can mine gold

Rinehart makes an annual $1.4m investment in Australia’s top 50 rowers, directly funding a weekly wage of $525 each to the best 25 men and top 25 women, allowing them to train full-time at the sports training bases. She joined the rowing ranks after the Rio Olympics and the funding has allowed the rowers to train together rather than be trained by different coaches in their home states. Rinehart has immersed herself in the Games.

Congratulations on winning silver!

Beach Volleyball

Patron Gina Rinehart recognised for her contribution to sport.

Current Olympic medal tally

5 August 2021.

Fossil fuels fuel gold, silver & bronze

Following the disappointing results in London, mining magnate Gina Rinehart of Hancock Prospecting quietly stepped in with a huge financial contribution to sponsor four different Olympic disciplines; swimming, rowing, volleyball and artistic swimming. That was clearly a turning point. Now, this long-term commitment, involving establishing training centres and paying salaries, has borne fruit.