Latest News
Catch up on the latest news and insights from Atlas.
Happy Australia Day from all the team at Atlas Iron
Wishing you a safe and happy Australia Day 2022.
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The powerful iron ore miners in McGowan’s corner
Gina Rinehart, now reaping the rewards of her Roy Hill mine, and Chris Ellison from Mineral Resourcesboth strongly pushed for the state’s continued isolation but Rio Tinto and BHP are also believed to have been quietly supportive when consulted by the Premier earlier this month. Given the variant has still been able to sneak behind the highest and toughest walls that Fortress WA could throw up, omicron may soon render Mark McGowan’s decision irrelevant. Even the state Department of Mines, Industry Regulation and Safety was closed Monday due to an outbreak. But support from most leaders of the state’s key industry – and its chief source of lucrative royalties – gave McGowan greater confidence to abruptly concede the warnings of WA health bureaucrats that the state’s health system was not ready for omicron.
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How COVID-19 could ‘incapacitate’ WA FIFO camps after February 5
Miners could face the end of two years of prosperity where they remained almost untouched by COVID-19 within Premier Mark McGowan’s fortress WA when the state opens up in three weeks. Curtin University infectious disease expert Archie Clements likened WA’s isolated mining fly-in fly-out camps to islands that were “very vulnerable places during pandemics.” “They are good at keeping infection out, but if the infection gets in it tends to sweep through the entire population and incapacitate them,” he said.
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Iron ore was a game of two halves in 2021. There’s reason for both pessimism and optimism in 2022
If ever there was a game of two halves it was iron ore in 2021. The first half of the year was something we’ve never seen before and may never see againProfits and dividends went through the roof. Australia’s biggest five iron ore miners — BHP (ASX:BHP), Rio Tinto (ASX:RIO), Fortescue Metals Group (ASX:FMG), Roy Hill and Mineral Resources (ASX:MIN) paid out $59.5 billion for the year to June 30. Gina Rinehart, Australia’s richest person, banked $3.92 billion from Roy Hill alone, after the 60Mtpa miner delivered $5.6b to shareholders. Hancock Prospecting’s Atlas Iron business, on death’s door as a listed entity a few years ago, raked in more than $900 million profit as Hancock declared a $7.3 billion profit — a record for a private company and larger than three of the four big banks.
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Prospect Awards finalists exhibit mining’s best
Finalists in 2021 include Atlas Iron, iCutter Industries and Sandvik. Atlas Iron attracted plenty of attention for its record-breaking contract to Indigenous business East-West Pilbara (EWP) for load and haul, and drill and blast services for the new Miralga Creek mine in Western Australia. The Hancock Prospecting subsidiary saw EWP as the best choice for the job as it is directly connected to the Traditional Owners of the land on which Miralga Creek will operate, the Nyamal people.
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University of Melbourne and Hancock Prospecting team up to advance carbon conversion technology
Hancock Prospecting Chief Executive Officer Garry Korte said the potential benefits of Carbelec should be significant and far-reaching, noting that steel makers could continue to benefit from the reliable and consistent supply of Pilbara ores, while also achieving their decarbonisation goals with both current and emerging steel technologies. “Hancock Prospecting’s pioneering spirit is backed by a strong history of successfully partnering in innovative solutions to meet the needs of customers. We believe Carbelec can be an important part of a future low-cost energy mix, allowing industries such as steel, cement and even current day baseload power generators to continue to lift the living standards of people in Australia and worldwide.”
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University of Melbourne and Hancock Prospecting team up to advance carbon conversion technology
Media Release 14 December 2021.
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Roy Hill and Atlas Iron long serving staff recognition: Dinner under Stars
Speech by Executive Chairman Mrs. Gina Rinehart, Thursday 2 December 2021.
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MinRes, Hancock strike infrastructure deal
MINERAL Resources has locked in port and rail agreement with Hancock Prospecting, ensuring it can export iron ore from its assets in Western Australia’s Pilbara that were once considered stranded. MinRes and Hancock announced the agreement on November 29, which will involve the development of an iron ore export hub at the Port Hedland Standley Point Berth 3, in South West Creek. "Our long-stated strategy is to transform from short-life, high-cost mines to lower-cost, longer-life operations underpinned by innovative infrastructure solutions."
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MinRes and Hancock team up in the Pilbara
While co-operation among Pilbara iron ore miners is rare, MinRes has an existing relationship with Hancock via its mining services division. "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," Ellison said.
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MinRes, Roy Hill, Hancock have big port plans
Ellison said yesterday the agreement with Hancock and Roy Hill was the first of its kind in the Australian resources industry. "Our long-stated strategy is to transition from short-life, high-cost mines to lower-cost, longlife operations underpinned by innovative infrastructure solutions," he said.
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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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