Hancock Prospecting Pty Ltd (HPPL) is an Australian company that has a long and important association with the Pilbara and the iron ore sector. The group HPPL has significant plans for further development in both the Pilbara region of Western Australia and other areas in Australia.
Since the discovery of iron ore by the company’s founder Lang Hancock in 1952 and lifting of the Federal Government embargo on iron ore exports in 1960, and the subsequent lifting of the State Government’s embargo on pegging land for iron ore tenements, a progression of 10 world class iron ore mines (the first Tom Price in 1966) have been developed from original Hancock discoveries.
In December 1992 Hope Downs Iron Ore entered a State Agreement to gain security for the Hope Downs tenements. The Hope Downs mine has commenced, (November 2007) with 50 percent partners Rio Tinto Iron Ore (RTIO). A second mine at Hope Downs 1 South commenced November 2008.
The Hope Downs Project represents an important milestone for the company. For the first time, the HPPL group has retained a significant equity stake in a developed world class project, indeed now two mines. This had been a long term vision of HPPL’s founder Mr Lang Hancock, and shared by his daughter, Gina Rinehart the current chairman of HPPL, which for the first time is being realised.
With the capability and experience gained through the development of earlier projects and bankable feasibility studies such as Marandoo and more recently Hope Downs, Hancock is looking forward to a productive future involving the successful development of its next major iron ore project, Roy Hill 1, and its steaming coal projects in Queensland and other projects in the HPPL group portfolio.