Article by Adrian Rauso, courtesy of The Daily Telegraph
25.06.2025
Gina Rinehart says net zero is an “unobtainable and expensive magic pudding”, and believes Australia should follow the lead of the US.
Mrs Rinehart made the comments hours after her Hancock Prospecting and Rio Tinto committed to spending $2.5 billion to extend the life of their jointly-owned Hope Downs iron ore mine in the Pilbara.
Australia’s richest person said projects like Hope Downs will not be built in the future if Australia does not “honestly confront and urgently address the reasons” for its declining levels of investment in recent years.
“It’s time not to be distracted by name calling like ‘far right’ and other names and stick to the fact that investment is beneficial, and unfortunately declining in Australia,” Mrs Rinehart said.
“We need to stand up, ignore the truth twisters, truth hiders and truth avoiders, and to point out what’s needed if we want to see such investment bring jobs and benefits to many Aussies.
“Not forgetting even if Australia reduces its approximately one per cent share of emissions, what benefit is there really in the overwhelming expense and consequences that such reduction brings.”
Mrs Rinehart said chasing the “unobtainable and expensive magic pudding that net zero is” will “negatively impact our way of life” for generations to come.
“Why not let those who want to reduce their emissions do so, and who want net zero efforts, be the ones who pay for them,” she said.
“While Australia instead follows the lead of (the) USA and other countries who put their citizens first.”
Rio and Hancock on Tuesday said they are contributing an equal share to bring the Hope Downs 2 and Bedded Hilltop iron ore deposits into production. Rio said the “above-water-table” iron ore pits have an annual production capacity of 31 million tonnes and will sustain production from the Hope Downs joint venture “into the future”.
Ore mined at the two sites will be transported to Hope Downs 1 for processing, with first ore from the two new deposits scheduled for 2027.
More than 950 jobs will be created during construction, according to Rio, and once operational the extension project “will help sustain” a workforce of about 1000 full-time equivalent roles in the Greater Hope Downs mining area.
