Latest News

Catch up on the latest news and insights from Atlas.

Sky News | Chris Smith interviews Mrs Gina Rinehart AO

Hancock Prospecting Executive Chairwoman Gina Rinehart says she does not think either major party leader is “sufficiently across” what she sees as Australia’s “two most important issues”. Ms Rinehart told Sky News host Chris Smith that one of these issues is defence. “I repeatedly say, if we don’t ...

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WA continues to be the Regina George of the Federation

Handing down his second state budget as Treasurer, Premier Mark McGowan proudly showed off an Apple Wallet with a balance of $5.7bn. The eye watering operating budget surplus is not the biggest in history. Last year the state - better known for shunning visitors and stunning sunsets - banked $5.8bn ...

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Red dirt royalties keep WA in the black, but McGowan knows they won’t last forever

Royalties from iron ore to feed the steel mills of China have allowed Western Australia to emerge from the pandemic with a surplus while NSW and Victoria face years of growing debt. The mines in the Pilbara region will deliver Premier Mark McGowan $10.3 billion this financial year, allowing the resource ...

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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. ...

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ANZAC Day | 2022

Lest we forget.

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The 10,000 missing miners

High commodity prices are masking deep-seated problems in the world’s big mining companies were a combination of cost inflation, supply-chain tightness, and shortages of everything is starting to bite. Reports covering March quarter production, scheduled to start flowing this week, might throw fresh light on the size of the ...

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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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Juniors surge after Hancock confirms magnetite joint venture

"This is an excellent opportunity for Hancock and could provide options for additional higher grade, lower impurity iron ore products." "The Mt Bevan project provides the basis to expand the iron ore business with Atlas growing its project capacity and expertise to support these large and complex undertakings," Atlas CEO ...

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RINEHART’S MAGNETITE MOVE

Mrs Rinehart’s Hancock Prospecting will take a 30 per cent stake in the Mt Bevan magnetite project west of Leonora under an agreement with joint venture partners, the Indian Government-controlled Legacy Iron and junior explorer Hawthorn Resources. Hancock chief executive Garry Korte said the project offered an excellent opportunity for ...

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Ground Breakers: Gold miners strike positive note as March results start to roll out

Gina Rinehart confirms bet on high grade iron ore with magnetite mine buy. Hancock will pay $9m for a 30% interest and can increase that to 51% by fully funding a PFS.

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