Latest News
Catch up on the latest news and insights from Atlas.
Executive Chairman Visits the Pilbara Indigenous Art Exhibit at Art Gallery of WA, July 2022
Tracks We Share is an introduction to the Aboriginal artists and art centres of the Pilbara, an ancient and beautiful region spanning over 500,000 square kilometres of Australia’s North West. Though the Pilbara is primarily associated with the resources industry in the national consciousness, Tracks We Share showcases its richness as an art-making centre. The exhibition highlights some of the most innovative contemporary artists working in the region today and pays tribute to several iconic painters who helped build its art scene over the past two decades.
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NMDC to explore iron ore, critical mineral mining possibilities in Australia’s Mt. Bevan
The PSU miner, through its Perth-based subsidiary, Legacy Iron Ore, has entered into a joint venture with a prospecting company, Hancock. A subsidiary of Gina Rinehart’s Hancock Prospecting will pay an initial Australian $9 million to earn a stake in the “Mt Bevan” iron ore project, owned by Hawthorn Resources and Legacy Minerals.
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Media Release: Mt Bevan JV Partners Progress Yilgarn Magnetite Project to Pre-Feasibility Study Stage
Tuesday July 12, 2022 | New Delhi, India
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Media Release: Mt Bevan JV Partners Announce Exclusive Agreement to Explore for Lithium, Nickel and Copper
Tuesday July 12, 2022 | New Delhi, India
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Monsters of Rock: Rinehart is all dressed up to rock Pilbara iron ore expansion
It’s no secret Gina Rinehart’s move on Atlas Iron a few years ago has been a good marriage for both, giving Hancock Prospecting a portfolio of close to shovel ready iron ore resources to plunder with the capital backing the junior didn’t have when it was a listed company. With solutions for port space and infrastructure now cleared up with a new capacity expansion from the WA Government at Port Hedland, an avenue is opening up for Rinehart to expand the production base of her solely owned iron ore assets should the market allow.
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Big contract wins for NRW
NRW has added to its bulging order book after securing a $60 million contract extension that will see it continue mining services at Gina Rinehart’s Atlas Iron in the Pilbara. The contract awarded to subsidiaries Action Drill and Blast and Primero includes mining and crushing services at Mt Webber, 220km south of Port Hedland, and it will run until the end of 2024.
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Electric turn for Atlas
Standard Toyota Land Cruisers and Hiluxes running on diesel are not energy efficient or emissions-free enough, so Atlas, part of Gina Rinehart's Hancock Prospecting Group, is electrifying the fleet. Tembo e-LV is supplying EV conversion kits for use at the Mount Webber, Sanjiv Ridge and Miralga mines in the Pilbara. The EV is completely emission free with instant torque and maximum power despite the lack of gears. VivoPower executive chairman and CEO Kevin Chin said the company was delighted to be assisting Atlas Iron in its journey towards electrification and energy efficiency.
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VivoPower International PLC Announces Tembo EV order from Atlas Iron, part of Hancock Prospecting
VivoPower International PLC (NASDAQ: VVPR, the “Company”) is pleased to announce that its wholly-owned subsidiary, Tembo E-LV, has secured an order for its EV conversion kits from Atlas Iron, a leading iron ore mining company based in Perth, Western Australia, and a subsidiary of Hancock Prospecting Pty Ltd (“HPPL”). Atlas Iron operates the Mt Webber, Sanjiv Ridge, and Miralga mines.
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Long-awaited 2021 Prospect Awards return
The 2021 Australian Mining Prospect Awards were finally held in Brisbane following COVID-related delays. Roy Hill’s iron ore mine in the Pilbara has taken home Australian Mine of the Year at the 2021 Prospect Awards. The Hard Rock Mine of the Year also went to Roy Hill’s iron ore operation, while Hancock Prospecting executive chair Gina Rinehart was awarded the Lifetime Achievement Award. “Secondly, a huge congratulations to the other finalists iCutter Industries and Atlas Iron. This really is an award where everyone wins as this work is so important to not only the business and First Nation’s businesses but it’s creating a better Australia for everyone.
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Absentee overload
An explosion of COVID-19 cases in WA is intensifying staffing woes, directly impacting businesses which continue to bear the brunt of skills shortages. As cases soared to a record high of 17,000 on Wednesday — well above the original peak prediction of 10,000 — businesses were left grappling with a surge in virus-related absenteeism. Some are optimistic conditions will improve from here as the case load comes down. However, others are anticipating further disruptions as potential new strains emerge. WA’s resources sector has also acutely felt the impacts of absenteeism.
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Magnetite back in favour with Rinehart | Gina Rinehart interest suggests magnetite iron ore is no boom-time folly
In the last month, Gina Rinehart’s Hancock Prospecting and Atlas Iron have joined the magnetite fray, a significant sign industry sentiment towards magnetite is changing. Atlas chief executive Sanjiv Manchada says the decision to reconsider developing magnetite projects came after Hancock acquired Atlas in 2018 and set about fully reviewing the company’s full suite of potential projects, including Ridley – floated as a potential development worth $3bn in 2009, but abandoned soon afterwards. “If anyone can do it, we believe Hancock can do it because we are good at developing projects – we are good at managing cost and schedule, the deliverables and understanding the risk.”
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Legacy Iron Ore (ASX: LCY) and Hawthorn Resources (ASX: HAW)
Legacy Iron Ore and Hawthorn Resources revealed this week that a wholly-owned subsidiary of mining magnate Gina Rinehart’s Hancock Prospecting, Hancock Magnetite Holdings, had earned its 30% stake in the Mt Bevan iron ore project in WA’s Central Yilgarn. The news sent both Legacy and Hawthorn’s share prices skyrocketing on Thursday.
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Hancock joins Legacy and Hawthorn in Mt Bevan JV
Legacy Iron Ore (ASX:LCY) and Hawthorn Resources (ASX:HAW) said Hancock Magnetite Holdings has executed the earn-in agreements into the Mt Bevan iron ore project. After the earn-in, Hancock will hold 51%, Legacy will hold 29.4% and Hawthorn will hold 19.6% of the project. Work programs will then be undertaken with the intention of further advancing the project to a bankable feasibility study. Hancock has appointed Atlas Iron as the manager of the new joint venture.
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Rinehart’s magnetite move
WA mining billionaire Gina Rinehart has pressed the button on a $9 million investment that could result in a multi-billion-dollar magnetite project in the Yilgarn region shipping high-grade iron ore products to India. The company announced on Thursday that its subsidiary Atlas Iron had been appointed as the manager of the joint venture project and would conduct the study. Hancock chief executive Garry Korte said the project offered an excellent opportunity for Hancock and could provide options for additional higher grade, lower impurity iron ore products.
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Hancock’s Mt Bevan deal a go
Hancock Prospecting’s plan to earn-in to a slice of a Yilgarn magnetite project is proceeding, with the deal finalised just days after a new trade agreement with India. It will fund a pre-feasibility study, with Atlas Iron - owned by Hancock - to be the manager of the joint venture. Hancock chief executive Garry Korte said the business looked forward to collaborating with joint venture partners on the feasibility study.
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