Board and Senior Management
CHAIRMAN & DIRECTOR
MRS. GEORGINA HOPE RINEHART, C.V.
Born: 9th February 1954, Perth, West Australia
Educated: St Hilda’s Anglican School for Girls, Sydney University
Mrs Rinehart joined the Hancock Group initially as a Personal Assistant to her father, the late Lang Hancock, after studying Economics at Sydney University. Mrs Rinehart gained an early knowledge of the Pilbara iron ore industry during those years and in particular Marandoo, for which a Bankable Feasibility Study was undertaken (after initial exploration by Hancock Prospecting Pty Ltd), in conjunction with then partners, Texas Gulf of the USA. Mrs Rinehart became Executive Chairman of Hancock Prospecting Pty Ltd (HPPL) and the HPPL Group of companies in March 1992.
Since becoming Executive Chairman, and after entering the Iron Ore (Hope Downs) State Agreement in December 1992, the Hancock Group has explored and undertaken a pre-feasibility study of Hope Downs, and commenced a bankable feasibility study. Mrs Rinehart was awarded “Deal of the Year” at the 2006 Diggers and Dealers Forum for the 50:50 Joint Venture with RTIO at Hope Downs, which now has two mines in production and a third under construction, (due for production 2012/2013) and further development work is being undertaken.
After undertaking HPPL’s first exploration field trip to Roy Hill (together with Chief Geologist, Richard Paquay), in mid-1992, Mrs Rinehart directed HPPL to apply for tenements over Roy Hill, which were granted in 1993. HPPL has extensively drilled this low phosphorous resource and proven in excess of one billion tons to JORC specification (cut off 55% FE) and has finalised a positive bankable feasibility study on the Roy Hill 1 project, a project that is potentially the largest undeveloped marra mamba deposit in Australia (outside of the majors), and secured an infrastructure route, and port site at Port Hedland. HPPL has recently secured (2012) international partners from Asia to develop this major project, which will include new rail and port facilities. HPPL has begun the dredging required for the port berths and is currently in the process of securing project debt for this project.
In 1996 Mrs Rinehart decided HPPL should apply for the Alpha coal tenements in the Galilee Basin in Queensland, which she later named “Tad’s Corner”. An extensive exploration program, together with completing a positive pre feasibility study and bankable feasibility study has since been undertaken by HPPL, together with securing an infrastructure route and port site at Abbott Point. A JORC reserve in excess of 4 billion tonnes of good quality thermal coal, low in sulphur and low in ash, has been identified. HPPL undertook the first mining in the Galilee Basin and the first export of coal from the Galilee Basin during 2010 and 2011. HPPL sought international partners to then develop this major resource, securing GVK in late 2011. Planning (subject to all Government approvals and licenses) is for a 30 mtpa mine (which would be Australia’s largest thermal coal mine).
Mrs Rinehart has also progressed the adjacent Kevin’s Corner thermal coal tenement, after purchasing approximately half of this tenement area from a third party, which now contains approximately 3 billion tonnes of thermal coal. A positive pre feasibility study has been completed, a bankable feasibility study undertaken and a JORC resource well in excess of two billion tonnes of good quality thermal coal, low in sulphur and low in ash, has been identified. Subject to all Government approvals, it is also planned in the bankable feasibility study that this mine will produce after ramp up at approximately 30 mtpa – again larger than any thermal coal mine currently existing in Australia, and this mine will share the above mentioned infrastructure route secured by HPPL (The Kevin’s Corner mine project has recently been sold to GVK, with HPPL remaining as minority partners in both Tad’s and Paul’s Corners).
Exploration work and a concept study has also been progressed at Hancock Alpha West, (Paul’s Corner) and this third mine is also planned to produce in the vicinity of 25MTPA after all approvals, permits and licences, a total from all three Galilee mines in excess of 80MTPA, utilising the HPPL secured infrastructure route and Abbott Point port site.
In 2007, Mrs Rinehart entered the Jacaranda Joint Venture Alliance, which has applied for additional tenements and holds tenements across Australia (Uranium, Lead, Zinc, Molybedum, Gold, Diamonds and Petroleum), and HPPL manages the exploration. Indications are showing some extensive deposits.
Mrs Rinehart continues to oversee significant progress exploring, evaluating and expanding potentially world class mine developments in the Hancock Prospecting Group portfolio, together with an expanding property portfolio, and pastoral interests.
Mrs Rinehart continues as a director of the Hope Downs Marketing company, a joint marketing company with RTIO, and serves on the Hope Downs Management Committee.
In 2010 Mrs Rinehart joined the board of Network Ten.
Additionally Mrs Rinehart has been honoured with:
• 1991 Commissioned a Kentucky Colonel by the Governor of Kentucky
• 2006 Diggers and Dealers “Deal of the Year”
• 2009 Australian Export Heroes Award (in recognition of an extraordinary contribution to the growth and development of Australian exports)
• 2009 Telstra - West Australian Commonwealth Bank Business Owner Award
• 2009 Telstra West Australian Business Woman of the Year
• 2009 Telstra Australian Commonwealth Business Woman of the Year (National)
• 2009 Telstra Australian Business Woman of the Year (National)
• 2010 Non Executive Director SISHA
• 2011 100 Year Centenary, Hall of Fame (WA)
• 2011 Global Leadership Award (the “Masterclass CEO of the Year”)
EXECUTIVE DIRECTOR
TAD WATROBA
Forty years’ total experience in both open cut and underground mining, encompassing mining operations, mine planning, feasibility studies, project financial evaluation, negotiations with government and non-government organizations, business development, joint venture participation, project commissioning, exploration management, audits and other related activities.
Tad has worked in iron ore, manganese, gold, brown and black coal, oil shale, copper, zinc and lead and was employed by Bechtel and several small-to-medium sized gold companies prior to joining HPPL in 1991. Tad has broad and significant experience with mining projects in Australia, Papua New Guinea (Ok Tedi), China and New Zealand.
CHIEF FINANCIAL OFFICER / COMPANY SECRETARY
JAY NEWBY
Chartered Accountant admitted to the Institute of Chartered Accountants in Australia in 1988. Broad experience in corporate finance, accounting and tax, and mergers and acquisitions, specialising in the mining/resources and property/construction sectors both in Australia and South-East Asia.
GENERAL COUNSEL
TERRY WALSH
Extensive corporate, commercial and mining experience as a Corporate Counsel with Rio Tinto and prior to that as a Senior Associate with leading law firms in Perth and Sydney. Master of Laws.
MANAGING DIRECTOR – COAL
PAUL MULDER
Paul Mulder is Managing Director – Coal. He has been heading up the Alpha Coal Project since September 2007, his responsibilities have increased to include the Kevin’s Corner Coal Project in Queensland also.
Prior to joining Hancock Prospecting Pty Ltd Paul worked in a variety of operating and management positions in the steel and resources industries. Paul commenced his career at BHP Steel subsequently transferring to other divisions in coal (BHP Mitsubishi Alliance) and iron ore (Western Australian Iron Ore). Paul also worked for BIS Industries (formerly part of Brambles) in the provision of contract mining services.
Paul is a Materials Engineer and has an MBA with approximately 15 years of operational and commercial experience.