The devastating Russian invasion of Ukraine has captured global attention. While the world’s focus is rightly on the human toll and suffering, the crisis has highlighted the need to end reliance on Russian oil and gas. To achieve that ambition, we must be pragmatic and invest in sensible alternatives, not engage in wishful thinking about renewable energy.
Rowing Australia held their annual awards gala in Penrith, NSW, March 11th, to celebrate the successes of the rowers and their coaches. And what a year to celebrate after an amazing performance in Tokyo by our rowers! One of Australia’s rowers best Olympic performances in history. Hancock Prospecting and Mrs. Gina Rinehart send a heartfelt congratulations to all of this evening’s winners, and a big thank you to president Rob Scott.
South Korea’s top steelmaker POSCO and Hancock Prospecting Pty Ltd, a leading Australian mining firm, have agreed to restart a long-dormant iron ore mine development project as the prices of the steelmaking raw material soar. The development of the Hardey project was originally estimated at $7.4 billion (A$10.3 billion), but the cost will likely dwindle as the developers have agreed to use the Roy Hill railway, port and other infrastructure for exports, removing the need to build new rail lines and ports.
Gina Rinehart believes foreign ownership of Australian farmland should be capped at a maximum of 49 per cent to protect against breakdowns in international relations. Ms Rinehart, Australia’s richest person with major stakes in mining and agriculture, said that while she was “very much pro foreign ownership” her support came with a major caveat. “The proviso is that the majority ownership is Australian and that the management is Australian,” she told 6PR Radio.
Gina Rinehart is the proud patron of the Australian swimmers, Swimming Queensland, Swimming West Australia, Rowing Australia, Volleyball Australia and Artistic Swimming, and is very dedicated to the Olympic and Paralympic athletes. She was also awarded the Australian Olympic Committee’s prestigious Order of Merit for her commitment to Olympic sport. Hancock Prospecting and Gina Rinehart are the largest ever private supporters of Australia’s Olympic efforts, in Australia’s history.
With very best wishes to the Aussie Winter Paralympics team!
WA mining billionaire Gina Rinehart has formally pushed the button on her magnetite iron ore ambitions with Atlas Iron launching a feasibility study on its Ridley project in the Pilbara. Chief executive Sanjiv Manchanda said while the prevailing skills shortage, long lead times for regulatory approvals and lead times for major equipment made the task of feasibility study challenging, Atlas would ensure that its existing discipline, engagement of stakeholders and cost focus continued with Ridley. The move highlights the growing demand and price premiums for higher grade iron ore as the world and particularly China look for greater efficiencies and reduced emissions in the steel-making process.
Gina Rinehart’s Atlas Iron has flagged plans to join the push towards building a magnetite iron ore industry in Australia, dusting off boom-era plans to study the company’s 2 billion tonne Ridley deposit. “While the current environment of skills shortage, long lead times for regulatory approvals and lead times for major equipment make the task of feasibility study challenging, we will ensure that our existing discipline, engagement of stakeholders and cost focus continues with the Ridley project,” he said. Even modest initial output of around 3 million tonnes a year would offer a blending opportunity that could significantly upgrade the value of the output from Atlas existing mines, which have historically produced iron ore grading about 58 per cent.
Hancock Prospecting subsidiary Atlas Iron has announced its Miralga Creek iron ore mine in Western Australia has achieved first ore earlier than expected. “We are pleased to have reached this significant milestone with the first trucks leaving for port,” Atlas Iron chief executive officer Sanjiv Manchanda said. Miralga Creek is expected to produce 8-million tonnes of iron ore over the three-to-four years lifetime of the mine.
Atlas Iron’s Miralga Creek mine has produced its first iron ore, with the project built by a joint venture including Indigenous contractor East West Pilbara. Atlas is part of the Hancock Prospecting business of entrepreneur Gina Rinehart, and operates two other iron ore mines at Mount Weber and Sanjiv Ridge. Atlas chief executive Sanjiv Manchanda said it was a significant milestone. “The EWP contract shows how commercial relationships can provide pathways for joint prosperity as they deliver value for both parties and are linked to a productive enterprise,” he said.
Thank you for your essential service throughout the outback.
