Pioneer of the
Australian Iron Ore
Industry

Hancock Prospecting (Hancock) is led by one of the most effective and most successful role models for women in traditionally male-dominated industries, and more broadly across the Australian business landscape. Through the leadership of our Executive Chairman, Mrs Gina Rinehart AO, programs like ‘Women in Mining: Building an Exceptional Future’, which was personally initiated by Mrs Rinehart, are focussed on creating continued pathways for women into the mining sector.

Women in Mining: Building an Exceptional Future Together

Hancock companies in aggregate employ more than 4300 people, offering diverse career paths for women. Year on year the median gender pay gap for the group has reduced as women have undertaken more internal and at times other training and advanced to more senior responsibilities through the organisation.  This incorporates our largest employing entity, Roy Hill, which accounts for over 85% of our overall employee numbers.

The Hancock group’s median gender pay gap (GPG) for base salary and total remuneration has reduced by 3.4 percentage points (from 25% to 21.6%) and 1.5 percentage points (from 22% to 20.5%) respectively (see table below).

*The group’s consolidated information for the 2022-23 period was not published by WGEA. The above data represents the most comparable information for the 2022-23 period that was published by WGEA.

In addition, the Hancock group’s average (mean) GPG aggregate differential in salaries, a new measure introduced for this reporting period by WGEA, at 16% for base salary and 18.5% for total remuneration, is a lower aggregated differential than the mining industry and national benchmarks for both measures (see table below).

Hancock’s mining businesses recognise that we offer women financial security and the independence that comes with mining’s high-paying wages – the highest average wages for females in any industry in Australia.  Women at Roy Hill and Atlas, our key operational divisions are earning nearly twice as much as women in hospitality and administration, giving them an opportunity to build a secure future.

As Hancock’s main operating arm and biggest employer, Roy Hill outperforms both the national and industry benchmarks when it comes to base salary and total remuneration GPG.

Continuing to attract the best people into our business is our core focus. This includes attracting and re skilling veterans, (even though this does not provide for an increased pro rata female participation.) 

From a practical perspective, more women have commenced in senior roles over the last reporting period in our mining operations, reaffirming excellent participation by women at all levels. For example, our train driver trainee program has majority women representation, offering the opportunity of high paying roles. 

It is important not to view WGEA statistics in isolation. For example, in relation to mining truck operators, Roy Hill outperforms the industry in the percentage of women which it employs in its business. This serves as an excellent entry pathway to more roles, including with more experience, and training, more senior roles. While these operators are well-paid, they fall within the lower quartile. Given WGEA’s method of calculating GPG, if these roles were not filled by women, Hancock’s GPG percentage would actually improve. This is why it is essential to consider the broader context, including factors such as increasing women participation and opportunity, rather than solely focusing on a single statistic.

A range of initiatives across Hancock’s businesses assist our female employees, including subsidised vacation childcare, family friendly rosters, dongas for married couples, choice of female only or shared gyms, security, annual industry pay benchmarking, as well as job design principles that ensure roles are set up for the best candidate regardless of gender.

We have in place measures to encourage and support women participation, development, and career growth across our various businesses, our confidence is supported by an exceptionally low turnover, under 10%, as compared to around 20% or more in various mining companies. 

The aggregate statistics across Hancock companies provides the most accurate picture of our performance.  The 10 individual silos required to be reported for WGEA are in some cases somewhat arbitrary delineations which lack relevant comparator benchmarks.  This piecemeal reporting can be misleading particularly with smaller data sets. Consequently, Hancock focusses on its performance across the total range of Hancock companies which reflects that our aggregate wage differentials are lower than relevant national benchmarks. 

However, it is critical to approach the security of females in well paid industry jobs, without more than 75 percent of eyes and ears closed. The Mineral Council of Australia has reported that 80% of the project pipeline list is now the “casualty list”. This 80% less projects affects not only men, but women too, and their daughters’ wanting jobs after schooling. When government tape, regulations and policies lead to record company collapses and investment dwindling in Australia, this does not lead to more high paying job opportunities or even job opportunities for women and their daughters. Nor does it lead to higher paid jobs for women if government actions or inactions make Australian products more expensive, hence unable to compete internationally, such as the excise tax on fuel that effects the cost of everything, payroll tax, stamp duty and licence fees that were to be removed 2 decades ago when GST came in, and the Paris Accord. The nature positive plan, also known as the not positive for mining plan, and the not positive for Australians plan, is an example of a government policy that does not attract investment or help provide more high paying jobs for women.