Article by Prealene Khera, courtesy of Mining
12.06.2025
Billionaire and mining tycoon Gina Rinehart has announced plans to bring Roy Hill and Atlas Iron together under one banner, merging the two companies to form Hancock Iron Ore.This strategic transition towards creating a single entity, Rinehart said, would ensure the legacy of both companies continues while their combined expertise and experiences yields better outcomes for the Pilbara region.
“We are building on the… remarkable achievements of … all at Roy Hill, Atlas Iron and Hancock,” she said.
“Roy, Atlas and Hancock have been recognised with many prestigious awards, including for operational excellence, outstanding safety practices, the use of innovation and new technologies like AI – leading the way and setting new standards for others in the industry to aspire to.”
Rinehart’s Hancock Prospecting acquired Atlas Iron in 2018, when it was in the midst of financial difficulties.
Since then, under new management it has accelerated its growth and profitability.
Similarly, Hancock Prospecting is also a majority owner of Roy Hill, with a 70 per cent equity.
“The world of iron ore is evolving and so are we,” Hancock Iron Ore chief executive officer Gerhard Veldsman said.
“Atlas Iron and Roy Hill are joining forces to become Hancock Iron Ore – bringing together our experience and combined strengths, and continuing to support many small, medium and large businesses, in West Australia and across Australia.”
Combined, Roy Hill and Allas have delivered more than $11.5 billion in royalties and taxes to governments and injected billions more into West Australia, supporting many businesses through contracts for goods and services.
The name change will take place next month, and the business will work out of new headquarters in West Perth.
