News - Hancock Prospecting PTY LTD

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 state to record a $5.7 billion surplus and cut net debt for the third year running. The WA government earns more from iron ore than land tax, stamp duty and payroll tax combinedIron ore will deliver almost 90 per cent of WA’s royalty income, from mining and oil and gas extraction.

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. Some are optimistic conditions will improve from here as the case load comes down. However, others are anticipating further disruptions as potential new strains emerge. WA’s resources sector has also acutely felt the impacts of absenteeism.

Senex Energy CEO Ian Davies was honoured to represent Mrs Gina Rinehart at the inauguration of Republic of Korea President Yoon Suk-yeol

11 May 2022.

Notice | False statements regarding Mrs Gina Rinehart investing in crypto currency

10 May 2022.
Mrs Rinehart and Hancock Prospecting Pty Ltd have been made aware of fake social media posts and associated news stories alleging that Mrs Rinehart has invested $5,000,000 into a start-up crypto currency platform.

Mrs Rinehart has not made the alleged investment or recommendations or quotes set forth in these adverts. This is a scam designed to use Mrs Rinehart’s positive corporate image to lure people in to invest.

Mother’s Day Greetings

2022

Catalyst closing in on juicy bit in hunt for new Bendigo

Gina Rinehart is set to share in a Eureka! moment of sorts towards the back end of the year when Catalyst (CYL) releases a maiden resource estimate for its virgin Four Eagles gold discovery beneath Murray Basin sediments north of Bendigo. The Catalyst-Hancock partnership has also made another virgin discovery beneath cover at Boort, 100km north-west of Bendigo. Scout drilling picked up a possible 1km trend of gold mineralisation at one of four gravity targets tested with the drill bit. Ms Rinehart’s involvement is through Hancock Prospecting, which is a 50% joint venture partner with Catalyst, as well as a 12.5% shareholder.

(IE) Catalyst considers exploration tunnel at Four Eagles

Catalyst Metals (ASX:CYL) is working towards a maiden JORC resource estimate at its Four Eagles gold project in Victoria to underpin a decision on an exploration tunnel. first reconnaissance air core drilling program at the company’s Boort exploration licence, which is a 50/50 joint venture with Gold Exploration Victoria (a subsidiary of Hancock Prospecting ), has encountered a possible trend of gold mineralisation at least a kilometre long that will require further testing.

Senex Energy Function

Brisbane 27th April, 2022

Senex Energy hosted a function to celebrate the new ownership of the company under POSCO International Corporation and Hancock Energy Corporation.

Positive factors powering gas’ price rise

Australian gas prices, especially along the eastern seaboard, have also been trending up and look like rising further as demand outstrips supply, which is why Gina Rinehart, one of Australia’s richest people dived into the gas market last year as a partner with Korea’s steel giant Posco in the takeover of Queensland gas producer Senex Energy. Rinehart’s move on Senex was well timed with oil trading around US$70 a barrel when it was first reported to US$105/bbl today.

ANZAC Day | 2022

Lest we forget.

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 challenge confronting BHP, Rio Tinto and other leading miners which are currently enjoying strong investor support because of near-record prices for most of their output.

Hancock Group Ukraine support | video

16 April 2022.