News

Atlas Iron’s Miralga Creek mine has produced its first iron ore, with the project built by a joint venture including Indigenous contractor East West Pilbara. Atlas is part of the Hancock Prospecting business of entrepreneur Gina Rinehart, and operates two other iron ore mines at Mount Weber and Sanjiv Ridge. Atlas chief executive Sanjiv Manchanda said it was a significant milestone. “The EWP contract shows how commercial relationships can provide pathways for joint prosperity as they deliver value for both parties and are linked to a productive enterprise,” he said.

Monday February 28, 2022.

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Olympic silver medallist and current world champion snowboard Jarryd Hughes talks to us from the Games and welcomes Mrs Rinehart and the Hancock Group to the Olympic family and thanks for the support to help Australia win GOLD! #olympics #olympics2022

Unexpectedly resilient iron ore prices have WA on track to double the projected 2021-22 Budget surplus to nearly $5 billion and hand the McGowan Government a second consecutive cash bonanza. That comes after WA banked a record $5.84 billion surplus last financial year – the biggest ever by any State – which also came largely off the back of staggering iron ore prices. Every other State and Territory has pencilled in big deficits for the current financial year, headlined by NSW and Victoria at $19.5 billion each.

3rd February 2022.

Mid-tier iron ore players Mineral Resources and Gina Rinehart’s Hancock Prospecting have been awarded valuable port capacity to export iron from WA’s Pilbara region, with established players also receiving boosts. The world’s largest bulk port at Port Hedland will expand to be able to export 660 million tonnes a year of iron ore after the WA government on Tuesday endorsed a development plan. Mrs Rinehart said she was very excited about obtaining the port capacity. “This will unlock a suite of growth assets, some of which would have otherwise remained stranded assets,” she said.

MinRes managing director Chris Ellison described the announcement as a key milestone in its strategy to unlock stranded deposits. “We look forward to working with the state government, the Pilbara Ports Authority, our valued partner Hancock and Roy Hill to progress this project,” he said. Hancock chair Gina Rinehart described the news as “very exciting”. “We are uniquely placed to fast track the delivery of critical port infrastructure by leveraging off and integrating with existing facilities and tenure,” she said. “This will unlock a suite of growth assets, some of which would have otherwise remained stranded assets, to bring jobs, revenue and opportunities for West Australians.”

This afternoon, the state government unveiled the long-awaited port capacity plan for Port Hedland, with total capacity rising to nearly 700 million tonnes per year, including 660mt for iron ore exports. Hancock Prospecting executive chairman Gina Rinehart said today’s confirmation of additional port capacity at South West Creek was the product of tireless work to expand capacity at the revenue earning port. She said the decision promised to unlock a suite of growth assets, some of which would have otherwise been stranded, to bring more jobs, revenue and opportunities to WA. Mineral Resources managing director Chris Ellison echoed her sentiments and said the development would allow the company to develop pit-to-port solutions and expand its ability to be a long-term, low-cost supplier of iron ore to international markets.