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Gina Rinehart will give $4.1 million in bonuses to 41 staff in raffle

Australia’s richest person, said to be worth $34 billion, will hand $100,000 each to 41 lucky workers at her company, Hancock Prospecting, to mark her 41 years at the firmMrs Rinehart has been paying out bonuses worth many tens of thousands of dollars a year on top of some of the highest wages in Australia to Roy Hill workers in the countdown to Christmas since 2018. She first flagged sharing profits (something like 5 per cent) from Roy Hill with workers during a speech during the Commonwealth Heads of Government Meeting in Perth in 2011 and long before the mine started shipping iron ore. Similar incentives and profit-sharing schemes apply across the rest of the Hancock business empire but are more discretionary.

Atlas advancing new iron ore mine

At McPhee, the plan is to haul 10 million tonnes per annum to Roy Hill for processing. From there the ore will be transported to Port Hedland for shipping. Both Atlas Iron and Roy Hill are majority owned by Gina Rinehart's Hancock Prospecting. CEO Group Projects at Hancock Prospecting Group Sanjiv Manchanda said the McPhee project was another step in the integrated Hancock Prospecting development approach, focusing on the product strategy for the broader group. "Atlas will continue to engage local and Indigenous contractors and maintain a practical approach to operations," he said.

Australia Day | CITY OF LIGHT EVENT AND BUILDING AN EXCEPTIONAL FUTURE

Celebrating Australia and women, as we remain committed to developing opportunities for women across our operation.

HAPPY AUSTRALIA DAY FROM ALL THE TEAM AT ATLAS IRON

26 January 2023.

Welcoming 2023 with a bang!

Rinehart rejigs Pilbara iron ore leadership team

Gina Rinehart’s Hancock Prospecting has moved to shake up the leadership team behind its money-spinning iron ore interests in the Pilbara. The company said the restructure would form part of its push to significantly increase annual exports in coming years. “With planned growth in scale from 60 million tonnes to 100mt, along with increasing complexity of the Roy Hill rail and port logistics system, Hancock will establish two new key roles to come into effect from January 30 — CEO group projects and CEO group operations,” Hancock said.

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.

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.

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.

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.