Rinehart’s iron ore goliath

Hancock Prospecting will unite its Roy Hill and Atlas Iron operations under a new banner called Hancock Iron Ore, as part of a major operational realignment.

The rebrand, which will take effect from July 1, marks the next phase of Hancock’s evolution as a major iron ore force, combining two of Western Australia’s most significant producers.

“We are not just rebranding,” Hancock executive chair Gina Rinehart said. “We are building on the exceptional legacy and remarkable achievements of Roy Hill, Atlas Iron and Hancock.”

Roy Hill is one of Australia’s leading iron ore miners, shipping around 64 million tonnes per annum (Mtpa) to steelmaking markets in nearby Asia.

In just over a week, the company expects to reach a major milestone of shipping 500 million tonnes of iron ore to global markets.

“The world of iron ore is evolving and so are we,” Hancock iron ore chief executive officer Gerhard Veldsman said.

“Atlas Iron and Roy Hill are joining forces to become Hancock Iron Ore – bringing together our experience and combined strengths, and continuing to support many small, medium and larger businesses in Western Australia and across Australia.”

Atlas Iron, acquired by Hancock in 2018 during a period of financial distress, now exports 10Mtpa following a successful operational turnaround.

“In October, it will be seven years since Hancock acquired Atlas,” Rinehart said. “Together, Roy and Atlas have received awards for operational excellence, safety and innovation, including in AI (artificial intelligence) and automation – setting standards for the broader industry.”

A new headquarters is planned in West Perth, with the interior to be completed in November and occupancy scheduled for 2026.

The name change will not affect customers, vendors or partner contractual obligations with both Roy and Atlas remaining under the same trading entities.