Latest News
Catch up on the latest news and insights from Atlas.
Gina Rinehart, Mineral Resources’ Chris Ellison strike Pilbara port, rail deal
WA mining identities Gina Rinehart and Chris Ellison will join forces in a landmark deal to develop new port facilities at South West Creek in Port Hedland to help unlock stranded iron ore assets in the Pilbara. Mr Ellison described the partnership and infrastructure-sharing deal as the first of its kind in the Australian resources industry. “We look forward to working with Hancock, Roy Hill, PPA and the State Government to progress this project which would help unlock stranded assets in the Pilbara and would create thousands of jobs for West Australians for years to come.”
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Hancock & MRL reach agreement for port & rail joint-venture
Hancock Prospecting Pty Limited (Hancock) and Mineral Resources Limited (MRL) are pleased to announce that they have entered into a legally binding agreement under which they will jointly investigate the potential to develop a new iron ore export facility at the Port of Port Hedland’s Stanley Point berth 3 in South West Creek, where Roy Hill Holdings Pty Ltd (Roy Hill) would provide services to both MRL and Hancock for development and operation of the project, including rail haulage and port services (Project).
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RINEHART’S ATLAS POSTS ALMOST $1BN PROFIT
It also sets the scene for Hancock to reveal what will almost certainly be the biggest profit for a private Australian company later this year. Mrs Rinehart said the importance of mining to Australia had “never been more evident during (2021), a time in which I am immensely proud of Atlas and our people and their contribution to safeguarding the economic prosperity of WA and Australia. When mining does well, so does Australia.”
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Atlas maps out iron-clad profit for a third year
Atlas operates the Mt Webber mine 230km from Port Hedland in WA and the newly commissioned Sanjiv Ridge mine that had its first shipment in the 2021 finance year. The Atlas profit comes after Mrs Rinehart's huge Roy Hill mine served up a massive $4.4bn net profit for the year to June 30, double the $2.2bn it made last year, from the shipping of about 60 million tonnes of iron ore in 12 months.
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Big profit boost for Atlas
Atlas' sales increased by 6.6% to 9.7 million tonnes, while revenue was up 66% to $1.7 billion due to a 58% increase in average realised iron ore prices. The company successfully completed construction of the Sanjiv Ridge iron ore mine and started hauling ore one month ahead of schedule. Atlas has turned its attention to the development of the Miralga project. An indigenous business was awarded the site establishment works and mining services contract, with first haulage expected in the fourth quarter of FY22.
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ATLAS PROFIT ROCKETS
Ms Rinehart, used the release of Atlas' results to warn that an "efficient and effective" frame work for the development of new projects free of duplication would be vital to attract the money needed to build the mines of the future. "When mining does well, so does Australia," she said. "We just have to remember that Australia exports its ore internationally, so we have to be cost competitive internationally, hence we should be wary of onerous government cost burdens, that don't encourage investment." Atlas chief executive Sanjiv Manchanda said the iron ore sector had propped up Australia's economy during the pandemic.
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Atlas rides iron ore wave
Hancock Prospecting-owned Atlas Iron is the latest player to reap the benefits of a buoyant iron ore market, posting a $938 million profit for the end of the financial year. Group chair Gina Rinehart said she was immensely proud of her company’s performance but warned industry should be wary of “onerous” government cost burdens. “We just have to remember that Australia exports its ore internationally, so we have to be cost competitive internationally,” Mrs Rinehart said in a statement.
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Gina Rinehart’s Atlas Iron posts near $1bn profit in big year for the billionaire’s iron ore assets
Atlas Iron has delivered billionaire Gina Rinehart almost $1.5bn in profits in only three years, since she beat fellow mining magnates Andrew Forrest and Chris Ellison to acquire the junior miner for $427m. The Pilbara iron ore miner’s net profit soared by 146 per cent to $938m for the 2021 financial year thanks to soaring commodity prices and increasing production, financial results lodged with the corporate regulator on Tuesday revealed.“ Australia exports its ore internationally, so we have to be cost competitive internationally, hence we should be wary of onerous government cost burdens that don’t encourage investment. It’s time we put greater priority on reducing government tape, and our government in turn, put greater priority on that welcoming investment,” she said.
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Gina Rinehart renews red tape warning for new mining projects as Atlas Iron profit skyrockets
“The importance of mining to Australia has never been more evident than during the 2020/21 financial year, a time in which I am immensely proud of Atlas and our people and their contribution to safeguarding the economic prosperity of West Australia and Australia,” Ms Rinehart said. “The mining industries and the businesses they support help to support millions of Australians right across the country. “When mining does well, so does Australia. We just have to remember that Australia exports its ore internationally, so we have to be cost competitive internationally, hence we should be wary of onerous government cost burdens, that don’t encourage investment.
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Mining magnate Gina Rinehart looks to expand iron ore empire into WA’s Goldfields region
Mining magnate Gina Rinehart has struck a deal to buy into an iron ore project in WA's northern Goldfields, further expanding her iron ore empire which includes the Roy Hill mine in the Pilbara. Hawthorn Resources managing director Mark Kerr described it as a "transformational deal" for the company. "Hawthorn is delighted to see Hancock join us to expedite development of our top-quality iron ore project," Mr Kerr said in a statement.
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Mining magnate Gina Rinehart backs changes to age pension system to keep older workers on the job
“Hancock recognises the shortage of staff Australia-wide disrupts many projects and delays supplies,” Mrs Rinehart said. “We are a supporter of the Government changing its policy where pension arrangements are concerned, so that pensioners can work should they so choose, without onerous tax resulting from their decision to work. “Hancock is a very patriotic company that supports investment in Australia, primary industries and jobs in WA and Australia. When mining does well, Australia does well.”
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Announcement | Hancock earn-in with Mt Bevan magnetite project
Hancock Magnetite Pty Ltd (HMPL), a wholly owned subsidiary of Hancock Prospecting Pty Ltd (Hancock), is pleased to confirm that it has entered into an exclusive agreement to earn-in to the Mt Bevan Project.
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Atlas Iron pursues Sanjiv expansion
Hancock Prospecting’s Atlas Iron is progressing plans to expand its Sanjiv Ridge iron ore project, with the EPA reviewing the development of a satellite mine to boost production.
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A Fortunate Life: Tad Watroba
Tad Watroba describes himself as ‘the most fortunate mining engineer there is’. After more than 45 years in the business, his drive and passion are as fierce today as when he began his first job down a mine after graduating in 1973 from Krakow’s AGH University of Science and Technology, then known as the University of Mining and Metallurgy.
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Atlas Iron awards unprecedented contract for Indigenous business
“We are so delighted to be sharing this vision with the Nyamal people, specifically via EWP which is the culmination of a long held desire from Troy’s grandfather to access economic benefits for his people. “We understand it is the first partnership between a company like ours and a Traditional Owner business, to conduct mining services on their own lands.”
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Atlas Iron prepares for Miralga Creek step change
ATLAS Iron is readying itself to start processing from the Miralga Creek iron ore project in Western Australia’s Pilbara. Miralga Creek is a five-pit extension of the Abydos mine and will add about 9.7 million tonnes of hematite production, per annum, over the next four years.
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Aussie beach volleyballers win first Olympic medal in 21 years
“But the philanthropic support of Gina Rinehart is something very special. Not only has Gina’s support been integral to helping Mariafe and Taliqua reach success, it underpins our whole beach volleyball program.” “Thank you Mrs R, you’re a massive part of our team’s achievements”.
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