“We are especially proud to lead the industry with our representation of women and our support for veterans. “Our partners and everyone who has been involved in Roy Hill can be extremely proud they have built Roy Hill from a project into one of the best mining companies in Australia,” said Rinehart. The mine is estimated to have made more than A$13-billion in net profits over the last two years, with the project already having paid off its A$10-billion debt in full.
Hancock Prospecting says it wants Rio Tinto to open new mines under a long-standing partnership as it moves to boost iron ore production, but warns the Albanese government’s policies are posing a threat to investment. The resources group, owned by billionaire businesswoman Gina Rinehart, said the government had put in place “necessary” barriers delaying the development of new projects under the Hope Downs partnership that so far involves the Hope 1, Hope 4 and Baby Hope mines in Western Australia.
Roy Hill were proud to sponsor the WA Day drone show, belatedly held in better weather on Monday evening. Mrs Rinehart was pleased to watch the show with some of the veterans who work across the Hancock Prospecting group of companies.
“It’s a mega project which at times we thought may not happen,” said Rinehart, who is the executive chairperson of Roy Hill. “We are very fortunate our partners proceeded to invest in our project. It represented a massive vote of confidence in our hardworking, then small executive teams. Since then, it has been a remarkable ten-year journey, one that many thousands of West Australians and Australians have contributed to, and which in turn has contributed to our state and country. “We are especially proud to lead the industry with our representation of women and our support for veterans.
“It’s a mega project which at times we thought may not happen,” she said. “We are very fortunate our partners proceeded to invest in our project – It represented a massive vote of confidence in our hardworking, then small executive teams.”“We are especially proud to lead the industry with our representation of women and our support for veterans.” “Our partners and everyone who has been involved in Roy Hill can be extremely proud they have built Roy Hill from a project into one of the best mining companies in Australia.”
Billionaire Gina Rinehart has described her giant $10bn Roy Hill iron ore mine as “the mega project that … we thought might not happen”. The billionaire mining magnate told a celebration of the 10th anniversary of Roy Hill that the mine’s first equity investors had made a “rare entrepreneurial move … with significant risk” that had paved the way for a project that made $13bn in net profits in the last two years alone and already paid off $10bn in debt in full.
Roy Hill and parent company Hancock Prospecting are delighted to celebrate 10 years in partnership with our financing and equity partners POSCO, Marubeni and China Steel Corporation (CSC). These major international companies placed their commitment in the Roy Hill project, record
debt financing was arranged, and spent their equity monies ahead of such debt financing, a rare entrepreneurial move for a mega project, and with significant risk.
At the time of the joint venture agreement, Roy Hill made history as one of the most significant projects for its time, winning many awards.
There has been much public and political focus centred on Australia’s east coast gas market, amid warnings of gas shortages, policy interventions and higher prices.
But it’s over on the west coast where the next gas debate may be brewing. West Australia’s gas producers, buyers and policymakers could be sleepwalking into their own domestic gas turning point. Just as the market is tightening, nearly all new gas discoveries have been bought up by three prominent Western Australian billionaires, who have their own priorities for the gas. It’s a timely reminder that investment in exploration for gas remains important both to enable the phase out of coal and support the supply of minerals needed to deliver the decarbonisation of the global economy and provide geopolitical security in supply chains.
Billionaire Gina Rinehart has issued a life-saving reminder to Australians about the need to protect themselves from the sun.Mrs Rinehart, 69, had left hospital just hours before after undergoing a minor surgery recently to remove a melanoma from her face and partially covered her bruised face behind a large white fan. ‘I should probably remind you all, please do the sun cream, do the hats and do the check-ups, please, which I didn’t do,’ she said.Mrs Rinehart accepted her award from the outgoing WA premier Mark McGowan in what was his last engagement as the state’s leader after last week announcing he was stepping down because he was ‘exhausted’.
AUSTRALIAN mining and agriculture icon Gina Rinehart has again stepped up for rural Australia, this time becoming the patron of rural charity Rural Aid. Mrs Rinehart said Rural Aid was an organisation that ‘stands with our mates in the bush’ during their hard times. “And it does get tough in the bush, with floods, fires and severe drought, in addition to the usual dangers of snakes, spiders and in some northern areas, crocodiles too,” she said. “As patron of Rural Aid, I encourage all Australians to throw their support behind its ongoing efforts in ensuring that our food producers – our farmers- are able to get back on their feet quickly when drought, flood or bushfire hits them.”
