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GINA Rinehart’s Hancock Prospecting could spend more than A$30 million to secure the rights to the full basket of metals at the Mt Bevan project in Western Australia, in addition to an ongoing magnetite joint venture agreement. The Mt Bevan project, 100km west of Leonora, contains 1.17 billion tonnes of magnetite grading 34.9%, but within its 165sq.km borders is the potential for battery metals. Hancock is already earning 51% of the magnetite from Legacy Iron Ore and Hawthorn Resources and has just committed to a three-stage earn in for up to 51% of all other metals, with a focus on nickel, copper and lithium.

S. Kidman & Co and the Santa Gertrudis Society for “Santas in July” at the Norman Hotel, please see promotional flyer.

Gina Rinehart’s listed partners in a potential lithium joint venture in WA’s central Yilgarn have gone into trading halts ahead of an announcement. The Indian-backed Legacy Iron Ore and Hawthorn Resources flagged news of “a joint venture agreement on the Mt Bevan project”, 250km north of Kalgoorlie.

Roy Hill is celebrating a ten-year partnership with its financing and equity partners, POSCO, Marubeni and China Steel Corporation.The Roy Hill project is the only independent iron ore operation in the Pilbara with majority West Australian ownership. At the time in which the joint venture agreement was created, it made history as one of the most significant projects for its time.“Our partners and everyone who has been involved in Roy Hill can be extremely proud they have built Roy Hill from a project into one of the best mining companies in Australia.”

Australia’s most successful private company – which made the AFR Fast Global list with almost 18 per cent revenue growth over the past three years – has a pipeline of magnetite and other projects aimed at boosting the iron ore exports. Hancock executive director Tad Watroba says the world will need more iron ore than ever before to hit global targets in renewable energy, but government policies were a barrier to boosting production. “Iron ore is critical to the modern world, and by all assessments global demand for iron ore and steel is only going to increase in the coming decades,” he says.

“We are especially proud to lead the industry with our representation of women and our support for veterans. “Our partners and everyone who has been involved in Roy Hill can be extremely proud they have built Roy Hill from a project into one of the best mining companies in Australia,” said Rinehart. The mine is estimated to have made more than A$13-billion in net profits over the last two years, with the project already having paid off its A$10-billion debt in full.

Hancock Prospecting says it wants Rio Tinto to open new mines under a long-standing partnership as it moves to boost iron ore production, but warns the Albanese government’s policies are posing a threat to investment. The resources group, owned by billionaire businesswoman Gina Rinehart, said the government had put in place “necessary” barriers delaying the development of new projects under the Hope Downs partnership that so far involves the Hope 1, Hope 4 and Baby Hope mines in Western Australia.

“It’s a mega project which at times we thought may not happen,” said Rinehart, who is the executive chairperson of Roy Hill. “We are very fortunate our partners proceeded to invest in our project. It represented a massive vote of confidence in our hardworking, then small executive teams. Since then, it has been a remarkable ten-year journey, one that many thousands of West Australians and Australians have contributed to, and which in turn has contributed to our state and country. “We are especially proud to lead the industry with our representation of women and our support for veterans.