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Australian Iron Ore
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The most successful private company ever in Australia’s history, and one of the most successful private mining companies in the world.
Two weeks ago, The Australian Financial Review suggested that the first response to a critical gas domestic gas shortage should be to find more gas, rather than taking export gas away from Australia’s overseas customers and intensifying the global energy crisis. The Senex joint venture between South Korean steel maker Posco and Gina Rinehart’s Hancock Energy plans to spend $1 billion expanding its Surat Basin gas production in Queensland to take pressure off the big three Gladstone LNG exporters. When it’s allowed to work, the market can provide most things, from a fast COVID-19 vaccine to more essential fuels. This week suggested it could happen with energy too.
THE Queensland Resources Council has welcomed a plan by gas company Senex to invest $1 billion in new fields. Mining magnate Gina Rinehart is partnering with South Korean steel giant POSCO, co-owners of Senex after a buyout this year, to expand gas in the Surat Basin. The investment is also forecast to create more than 200 construction jobs and 50 permanent roles.In a speech to business leaders in Queensland on Thursday, Federal Resources Minister Madeleine King called for more fields to be unlocked.Mr Macfarlane said it was more important than ever that investors had the confidence to make a significant outlay on resources and energy projects.
Queensland’s Surat Basin may be home to the state’s main coal seam gas region but it could be about to get a whole lot bigger. Senex Energy, which is owned by Gina Rinehart ‘s Hancock Energy and South Korean steel maker Posco, has announced a $1 billion expansion of its natural gas developments in the Surat Basin, which includes hydraulic fracturing, or fracking.
The expansion, which still needs approval from federal Environment Minister Tanya Plibersek, will increase the company’s gas production to 60 petajoules (PJ) per year from the end of 2025. Producing enough electricity to power more than 2.7 million homes each year, it is equivalent to more than 10 per cent of the east coast’s annual domestic gas requirements.
Federal Resources Minister Madeleine King has called for more Queensland gas fields to be unlocked. Queensland gas is a “natural ally” of renewables and will support the addition of more intermittent energy, the minister told a business audience in Brisbane on Thursday. Mining magnate Gina Rinehart is partnering with South Korean steel giant POSCO, co-owners of Senex after a buyout this year, to expand gas in the Surat Basin. Senex will deliver 60 petajoules of gas each year to support demand from the east coast market, when the expansion of the Atlas and Roma North projects is complete. Australian Petroleum Production and Exploration Association acting chief executive Damian Dwyer said it was a “massive” project, with 60 PJ equivalent to the electricity used by more than 2.7 million homes each year.
Senex Energy Ltd., controlled by Posco and billionaire Gina Rinehart, will invest A$1 billion ($707 million) to produce more natural gas in Queensland amid concerns from Australian authorities over a potential shortfall of the fuel. “The recent electricity crisis proved natural gas is critical to providing secure and reliable energy for Australians, and is needed to underpin renewables and replace aging coal generation,” Senex Chief Executive Officer Ian Davies said in the statement.
The Queensland Resources Council has welcomed a plan by gas company Senex to invest $1 billion in new fields. Mining magnate Gina Rinehart is partnering with South Korean steel giant POSCO, co-owners of Senex after a buyout this year, to expand gas in the Surat Basin. The expansion “demonstrates the best path forward to shoring up Australia’s energy security”, the industry body’s chief executive Ian Macfarlane said on Thursday.
South Korean steel maker Posco will partner with Gina Rinehart to pump more gas into the domestic market with a $1 billion coal seam expansion, as the Albanese government insists the fuel is vital to reaching net-zero emissions by 2050. With work set to begin in coming weeks, one of Australia’s biggest Asian energy allies and Ms Rinehart’s Hancock Energy aim to lift annual production at their jointly owned Queensland Senex venture in the Surat Basin to 60 petajoules within two years. Senex says the investment, which still needs approval by Environment Minister Tanya Plibersek, will create more than 200 construction jobs at its Atlas and Roma North projects, and help close a looming shortfall in domestic gas supplies that the competition regulator said this month could reach more than 56 petajoules, or 10 per cent of forecast 2023 demand.
Like these great Australians, we continually strive to be the best at everything we do.
We have varied and exciting career opportunities across our mining and agricultural businesses. To join Australia’s most successful private company group, head to www.futureaustralianjobs.com for more information.
We are investing in Australian jobs and look forward to you joining with us to continue to build prosperity for our great nation, and to set yourself up now and into the future.
AOC and Hancock Prospecting in change-making partnership
AOC announcement 28th of January 2022.Read More
Sky News Australia Day 26 January 2022 | Rowan Dean interview of Mitch Larkin and Mack Horton
Gina Rinehart "singlehandedly saved our sport", according to Olympic Swimmer Mitch Larkin. It comes after mining magnate Gina Rinehart was appointed as an Officer of the Order of Australia for services to mining, community and sport. "She's such a caring and supportive lady," Mr Larkin told Sky News host Rowan Dean.Read More
Australia Day honours: Billionaire patron Gina Rinehart goes from strength to strength
Hancock is one of the biggest taxpayers in Australia and has weathered the Covid pandemic. Its company profit for the year to June came after revenue for Mrs Rinehart’s Hancock rose to a record $16.6bn from $10.5bn a year earlier and the business paid a huge $2.7bn in federal corporate and state taxes. Last year was also a significant one away from mining for Mrs Rinehart, who watched strong performances by athletes in the four sports she backs at the Tokyo Olympic Games. Swimmers, rowers, beach volleyball players and artistic swimming representatives all receive direct support from Mrs Rinehart, as part of charitable and sponsorship pursuits the billionaire undertakes that also includes helping Cambodian girls out of poverty. All of the support has been recognised in this year’s Australia Day honours, with Mrs Rinehart gaining the title of Officer of the Order of Australia for distinguished service to the mining sector, to the community through philanthropic initiatives, and to sport as a patron.Read More
When Mining does well, Australia does well.
Hancock Prospecting Group companies, Roy Hill and Atlas Iron, joined together to promote all that our industry does for our country. Video preview at post.Read More
Another honour for Mrs Gina Rinehart, Executive Chairman, HPPL, Roy Hill, S.Kidman & Co
“Gina Rinehart is a great advocate for the Australian mining industry, and a very worthy inductee to the Australian Prospectors & Miners Hall of Fame for 2020.” This recognition follows Mrs Rinehart’s receipt of the GJ Stokes Memorial Award at Diggers and Dealers in October, the second only person and first female to win the trifecta of awards at diggers and dealers.Read More
We support WA Jobs for recovery.
The Hancock Prospecting Group, in the lead up to National Mining and Related Industries Day and National Agriculture and Related Industries Day, has been actively promoting the important role of primary industries in our great State and Country.Read More