Mining magnate Gina Rinehart has been named The Australian Financial Review’s (AFR) 2023 Business Person of the Year.
The annual AFR Business Person of the Year list recognises Australia’s top leaders, builders, pioneers and chief executive officers (CEO).
“Under Mrs Rinehart’s leadership, Hancock Prospecting has been transformed from a company facing a parlous financial position in 1992, when she became executive chairman, to Australia’s most successful private company,” Hancock Prospecting said.
“On behalf of the Hancock Prospecting executive team and staff, congratulations Mrs Rinehart on this well-earned recognition for your hard work, dedication, and leadership. Hancock Prospecting, and indeed Australia, would not be what it is today without you.”
Rinehart was chosen as Business Person of the Year by AFR’s judging panel that comprised of editor-in-chief Michael Stutchbury, deputy editor business Kylar Loussikian, companies editor Vesna Poljak, Chanticleer columnists James Thomson and Anthony Macdonald, national affairs columnist Jennifer Hewett, and BOSS editor Sally Patten.
“We are a patriotic Australian company, and we like to make quality investments in iconic West Australia and Australian businesses, and in projects that our country needs to maintain and improve living standards,” Rinehart said, as reported by AFR.
“Australian mining and agriculture feed, clothe, heat and build the world, and if you take them away not only do you relegate Australians to poor living standards, fewer jobs, lower wages, less export revenue and less government tax revenue, but you also deprive our allies of the food, fibre, metals and minerals they need.”
Accepting the award last night in Sydney, AFR reported that Rinehart said it’s been a challenging year for Australia’s primary industries and that the country should “roll out the red carpet” to investment by removing red tape.
Alongside Rinehart, the resources industry was represented well through the AFR 2023 Business People of the Year list.
Lynas Rare Earths CEO Amanda Lacaze and Boral CEO Vic Bansal were reognised for their efforts, along with AustralianSuper chief investment officer Mark Delaney, AirTrunk CEO Robin Khuda and Pro Medicus CEO Sam Hupert.
It’s been a big year for Rinehart, notably through its lithium moves.
Hancock Prospecting worked its way up to becoming Liontown Resources’ largest shareholder in October, taking a 19.9 per cent share. As a result, Albemarle’s $6.6 billion takeover of Liontown was withdrawn.
Not too long after, Chilean lithium miner SQM announced its intention to buy lithium upstart Azure Minerals for $3.52 per share. As Azure shareholders were supporting the bid, Hancock Prospecting acquired a strategic stake of 18 per cent.
Alongside Rinehart, the resources sector was represented well through the AFR 2023 Business People of the Year list.
Lynas Rare Earths CEO Amanda Lacaze and Boral CEO Vik Bansal were listed for their efforts, along with AustralianSuper chief investment officer Mark Delaney, AirTrunk CEO Robin Khuda and Pro Medicus CEO Sam Hupert.