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GINA Rinehart is set to add a new Pilbara iron ore mine to the portfolio of Hancock Prospecting, the first stand-alone iron ore operation to be built solely by the family mining company.

Mining magnate Gina Rinehart’s Hancock Prospecting has filed for environmental approval for a 20 million tonne per annum (mtpa) iron ore mine on her family’s Mulga Downs station in the Pilbara. The proposed area is located within an area of existing pastoral and mining land use with transport of the ore proposed via the Great Northern Highway to Port Hedland for export. According to the proposal filed with the Western Australian Environmental Protection Authority (EPA), facilities will be developed to support production of up to 20 million tonnes of ore per annum (Mtpa) over a
minimum 30-year period.

Miners could face the end of two years of prosperity where they remained almost untouched by COVID-19 within Premier Mark McGowan’s fortress WA when the state opens up in three weeks. Curtin University infectious disease expert Archie Clements likened WA’s isolated mining fly-in fly-out camps to islands that were “very vulnerable places during pandemics.” “They are good at keeping infection out, but if the infection gets in it tends to sweep through the entire population and incapacitate them,” he said.

Last year, Mineral Resources (MinRes) partnered with Hancock Prospecting and Roy Hill to investigate the development of a new iron ore export facility in Port Hedland, Western Australia. Stanley Point Berth 3 in South West Creek is shaping as a viable option for the major iron producers to expand their export capacities. The agreement would see Roy Hill provide services to MinRes and Hancock to develop and operate the facility, including rail haulage and port services. MinRes managing director Chris Ellison said collaboration of this kind would shape the future of Australia’s mining industry.

“I am particularly delighted that Hancock is joining forces with Boawu, the largest steelmaker in the world,” Hancock executive chairman Gina Rinehart said. “Whilst Hancock already has a long-standing successful partnership with POSCO through our Roy Hill mega project, and a great relationship with Chinese companies who helped us deliver the outstanding Roy project, we look forward to enjoying the same successes as we work with Boawu and our friends at AMCI through the studies, development and operations of the Hardey project.”

If ever there was a game of two halves it was iron ore in 2021. The first half of the year was something we’ve never seen before and may never see againProfits and dividends went through the roof. Australia’s biggest five iron ore miners — BHP (ASX:BHP), Rio Tinto (ASX:RIO), Fortescue Metals Group (ASX:FMG), Roy Hill and Mineral Resources (ASX:MIN) paid out $59.5 billion for the year to June 30. Gina Rinehart, Australia’s richest person, banked $3.92 billion from Roy Hill alone, after the 60Mtpa miner delivered $5.6b to shareholders. Hancock Prospecting’s Atlas Iron business, on death’s door as a listed entity a few years ago, raked in more than $900 million profit as Hancock declared a $7.3 billion profit — a record for a private company and larger than three of the four big banks.

Hancock Prospecting said in a statement it was “an opportunity to make this one of the best resorts in Australia, with its special location and white sandy beaches”. Ms Carroll agreed, saying it would be a boon for the region. Ms Carroll was confident Hancock Prospecting would deliver a “truly world-class tourism development” but said there was a long road ahead.

Rinehart and her company Hancock Prospecting signed a development agreement this week to lead a bankable feasibility study on the Hardey project in the West Pilbara owned by the API Joint Venture. “The Hardey project has waited years for the right window to proceed to development,” she said. “We have an outstanding group of partners, and we believe that now is the right time for the Hardey project to be progressed.”

Gina Rinehart has signed an agreement for the “sleeping giant” of iron ore to be exported over the Roy Hill railway and port infrastructure with first shipment set for 2023. Ms Rinehart committed her company, Hancock, to lead and run the project in a signing ceremony with the joint venture partners this week. Gina Rinehart: “We have an outstanding group of partners, and we believe that now is the right time.”

Under the development agreement, Mrs Rinehart’s Hancock Prospecting will undertake a bankable feasibility study. If given final investment approval by the joint venture partners, Mrs Rinehart’s majority owned Roy Hill will develop and operate the project. “The Hardey project has waited years for the right window to proceed to development,” Mrs Rinehart said in a speech at the venture’s signing ceremony. “We have an outstanding group of partners, and we believe that now is the right time for the Hardey project to be progressed.”

But as Australia digests the week that was and contemplates how to better it, it’s worth pointing out that 11 of the 17 gold medals and one bronze came in disciplines in which the living costs of athletes were not covered by their sporting organisations or government funding, but were paid for by one benefactor alone: the country’s richest person, Gina Rinehart.

“A few of us have a few little jobs and most of us are studying or have something outside – obviously that’s important – but it has meant that for us to support ourselves with our rent, bills to pay, that’s where Mrs Rinehart comes in, and we definitely wouldn’t be able to do it without her.”