Gina Rinehart’s Hancock Prospecting has become the latest mining major to join the queue in rare earths, taking a 10 per cent stake in Northern Territory hopeful Arafura Rare Earths. Hancock has taken a cornerstone $60m stake in Arafura as part of a $121m placement at 37c, which will eventually give Ms Rinehart’s family company a stake worth about 10 per cent of the rare earth project developer.
It was a fantastic night for all of the rowing community to come together and celebrate the successes from the 2022 season at the Hancock Prospecting Rower of the Year Awards held in Penrith, NSW on Friday 2 December 2022. Rowing Australia President, Rob Scott also added, “I also want to reiterate that we continue to be grateful for the ongoing support of everyone in our sport that enables us to succeed. From our fantastic sponsors, which includes the vital support of Hancock Prospecting, to our selfless rowing community. Congratulations to all our award winners.”
Gina Rinehart has moved to shake up the leadership team behind her money-spinning iron ore interests in the Pilbara. Mrs Rinehart’s Hancock Prospecting will reportedly install a single boss to oversee both her Roy Hill and Atlas Iron interests, with current Roy Hill chief executive Gerhard Veldsman to become chief executive of group operations. The changes will take effect from the end of January. Cashed-up Hancock has also been busy shoring up its interests away from iron ore, with big plays in the gas and rare earths industries. Hancock is now the frontrunner in an intensified bid for Warrego Energy after gazumping an offer from fellow suitor Beach Energy.
Gina Rinehart has unveiled a major shake up in the running of Hancock Prospecting’s core iron ore businesses as it targets a boost in production to 100 million tonnes a year. The leadership re-set at Australia’s most successful private company comes as it looks to lift production at the flagship Roy Hill mine, add new mines to the Atlas Iron operations and build export facilities at Port Hedland under a partnership agreement with Chris Ellison’s Mineral Resources. The changes show Mrs Rinehart has no intention of taking her eye off the ball in iron ore while Hancock pursues acquisitions and major investments in onshore gas and green minerals.
Gina Rinehart’s private business has made two significant moves in rare earths in the Northern Territory and natural gas in the Perth Basin, near the WA capital. Monday saw Ms Rinehart’s company emerge with a 10% stake in Arafura Rare Earths after it coughed up just on half of Arafura’s $121 million raising to develop the Nolans rare earths mine in the NT. Meanwhile, Ms Rinehart and her advisers have shown the benefit of moving aggressively and tactically to take a potentially winning position for control of Warrego Energy, a company with a half interest in a WA gas field with no production as yet but plenty of potential.
The leadership reset at Australia’s most successful private company comes as it looks to lift production at the flagship Roy Hill mine, add new mines to the Atlas Iron operations and build export facilities at Port Hedland under a partnership agreement with Chris Ellison’s Mineral Resources. The changes show Mrs Rinehart has no intention of taking her eye off the ball in iron ore while Hancock pursues acquisitions and major investments in onshore gas and green minerals.
Gina Rinehart’s $60 million move on Arafura Rare Earths (ASX:ARU), which will see her join a $121m institutional placement to own around 10% of the emerging critical minerals stock, is the latest sign it is becoming the place to be.
THE beef industry has cleaned up at the 60th annual Australian Export Awards, with Hancock Agriculture and Mort & Co winning separate sections. Hancock’s 2GR Wagyu brand took out the agribusiness, food and beverage category and Mort & Co won the regional exporter category. Consolidated Pastoral Co was a finalist in the agriculture category and Darwin-based live exporter Australian Cattle Enterprises emerging exporter finalist. Hancock Agriculture CEO Adam Giles said the company had grown exports in the UK, Europe and the west coast of the US, with further markets expected to develop with the organic growth in its herd and production capabilities. “The 2021–22 year was spectacular for 2GR,” Mr Giles said.
NOT content with weighing into the Australian gas market, most recently with a circa A$250 million bid for Perth Basin explorer Warrego Energy, Gina Rinehart has now dealt herself into the rare earth elements space. Arafura Rare Earths has just completed a A$121 million placement to accelerate development of its Nolans project in the Northern Territory with Rinehart’s Hancock Prospecting taking a cornerstone stake. Hancock has paid $60 million for a 10% interest in Arafura, one of a number of new shareholders buying into the company as it prepares to start development as one of a new generation of Australian REE producers.
Gina Rinehart’s Hancock Prospecting has grabbed a big stake in Arafura Rare Earths amid a flurry of corporate activity from the iron ore billionaire, who is intent on increasing her private company’s footprint in green minerals as well as winning a takeover battle for Warrego Energy. The investment was announced on Monday as Warrego confirmed Hancock had gained the upper hand over Kerry Stokes-backed Beach Energy in the rapid-fire takeover battle for the Perth-based company.
Gina Rinehart’s money-making machine Hancock Prospecting is again splashing the cash, this time taking a cornerstone stake in Arafura Rare Earths’ $121 million capital raising. Hancock has emerged with a 10 per cent stake in Arafura, which is advancing its $1.6 billion Nolans Creek project in the North Territory, after tipping $60m into the discounted placement offering.
Gina Rinehart’s Hancock Prospecting makes most of its money from iron ore, but appears to be diversifying, according to reports. After Arafura Rare Earth last week called for $121 million for its Nolans project in the Northern Territory, Hancock is understood to have committed to investing $60 million. The bid caused brokers Bell Potter and Canaccord Genuity to shut the books early last Friday. The Nolans project marks a major boost for the NT, helping to secure it as one of the world’s only sources of important critical minerals. The minerals mined from the Nolans project can be used to make technological devices like mobile phones, televisions and computer monitors.
