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Catch up on the latest news and insights from Atlas.
Hancock shakes up iron ore leadership
The chief executives leading Atlas Iron and Roy Hill will be bumped up to new overarching roles within the broader Hancock Prospecting group as it moves on big growth plans for iron ore. Gina Rinehart’s private business announced today that two new roles would be created in light of the ‘growing complexity’ rail and port systems within Roy Hill and bigger plans to lift production from 60mtpa to 100mtpa.
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Rinehart reloads in iron ore with sights set on 100m tonnes
Gina Rinehart has unveiled a major shake up in the running of Hancock Prospecting’s core iron ore businesses as it targets a boost in production to 100 million tonnes a year. The leadership re-set at Australia’s most successful private company comes as it looks to lift production at the flagship Roy Hill mine, add new mines to the Atlas Iron operations and build export facilities at Port Hedland under a partnership agreement with Chris Ellison’s Mineral Resources. The changes show Mrs Rinehart has no intention of taking her eye off the ball in iron ore while Hancock pursues acquisitions and major investments in onshore gas and green minerals.
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Gina Rinehart’s big move to restructure leadership at Hancock Prospecting to grow Pilbara iron ore interests
Gina Rinehart has moved to shake up the leadership team behind her money-spinning iron ore interests in the Pilbara. Mrs Rinehart’s Hancock Prospecting will reportedly install a single boss to oversee both her Roy Hill and Atlas Iron interests, with current Roy Hill chief executive Gerhard Veldsman to become chief executive of group operations. The changes will take effect from the end of January. Cashed-up Hancock has also been busy shoring up its interests away from iron ore, with big plays in the gas and rare earths industries. Hancock is now the frontrunner in an intensified bid for Warrego Energy after gazumping an offer from fellow suitor Beach Energy.
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Rinehart shakes up Hancock Prospecting’s iron ore leadership
The leadership reset at Australia’s most successful private company comes as it looks to lift production at the flagship Roy Hill mine, add new mines to the Atlas Iron operations and build export facilities at Port Hedland under a partnership agreement with Chris Ellison’s Mineral Resources. The changes show Mrs Rinehart has no intention of taking her eye off the ball in iron ore while Hancock pursues acquisitions and major investments in onshore gas and green minerals.
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Hancock warns of IR troubles
Gina Rinehart’s Hancock Prospecting says billions of dollars in future royalty and tax revenue for the WA economy would be in jeopardy if multi-employer bargaining codes are forced onto the mining sector. Hancock Prospecting chief executive Garry Korte said a six-week period of strike action at Port Hedland would cost $9 billion in lost iron ore export revenue and an estimated $551m in lost mining royalties to the WA Government. “If the Bill were to pass in its current form it would open the door to a confrontational industrial relations system that could cripple our industry and result in poorer wage outcomes for our workers,” he said.
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An Iron Giant: Gina Rinehart
Sailing out across the turquoise waters of Port Hedland harbor aboard the Anangel Explorer, a vessel laden with the first shipment of iron ore from the US$10 billion Roy Hill Mine, is a moment that stands out of many milestones for mining magnate Gina Rinehart, the Executive Chair of Hancock Prospecting.
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Atlas pays inaugural dividend
Hancock Prospecting subsidiary Atlas Iron has paid a maiden dividend of $225 million despite posting a big fall in annual net profit from its iron ore mining operations. Production from the company's Mt Webber, Sanjiv Ridge and newly commissioned Miralga mines increased fractionally to 9.8 million tonnes for the year to June 2022. Chief executive Sanjiv Manchanda said that following a record-breaking profit in the previous financial year, the company was focused on cost control, improving efficiencies and positioning Atlas for the future.
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Atlas Iron’s first dividend delivers Rinehart $225m
Gina Rinehart will pocket a $225 million dividend from her junior Pilbara miner Atlas Iron, despite weaker iron ore prices sending its profits tumbling last year.
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Rinehart’s Atlas Iron keeps up IR attack as it delivers $225m dividend
Gina Rinehart-controlled Atlas Iron has doubled down on her warnings about the Albanese government’s industrial relations changes after delivering its first dividend for the mining billionaire. Atlas Iron chief executive Sanjiv Manchanda said a strike in Western Australia’s iron ore-rich Pilbara region would hurt indigenous communities as well as hit businesses, trade, government income from taxes and royalties.
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Congratulations to the Hancock Group’s Executive Chair Dr. Gina Rinehart AO on her outstanding leadership
This year marks a very special milestone for the Hancock Prospecting Group – a celebration for Mrs. Gina Rinehart ao who has strongly led the Group for 30 years in her role as Executive Chair. During this time, Mrs. Rinehart has led the company to become one of the most successful private mining houses in the world, not to mention the most successful private company in Australia’s history, after taking on the position of Chair when the company was not in a good position.
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WA launches infrastructure-specific initiative
WA launches infrastructure-specific initiative he Western Australian Government has launched the Resources Community Investment Initiative which will facilitate investment in iconic state infrastructure projects and community and social initiatives across WA. The initial commitments total $750 million, with $250 million from Rio Tinto, $250 million from BHP, $100 million from Hancock Prospecting, Roy Hill and Atlas Iron, $50 million from Woodside Energy, $50 million from Chevron Australia and $50 million from Mineral and Resources.
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BILLION DOLLAR BABY
Six of WA's biggest miners Rio Tinto, BHP, Hancock Prospecting, Woodside, Chevron and Mineral Resources were on Tuesday confirmed as the inaugural donors to the Resources Community Investment Initiative. Unveiling the new fund which will be used to pay for major "legacy" projects like the $400m Aboriginal Cultural Centre and the $250m Perth Zoo redevelopment Mr McGowan said he expected it would continue to swell.
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City of Light: Perth in Christmas spirit during Christmas drone show over Elizabeth Quay
“We’re lighting up the City this summer and there’ll be something for everyone to enjoy — see you in our City of Light,” Mr Zempilas said. The City of Light shows are presented by the Hancock Group of companies, including Hancock Prospecting, Roy Hill and Atlas Iron.
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