Business
Gina Rinehart’s wealth soars as Hancock Prospecting reports $4b profit – Sydney Morning Herald
Mining magnate Gina Rinehart’s Hancock Prospecting has reported a 50 per cent profit surge on the back of this year’s soaring iron ore prices.
Hancock Prospecting’s principal activities across the year included the mining and sale of iron ore through the Roy Hill iron ore project, its half share in the Rio Tinto-owned Hope Downs joint venture and its shareholding in Atlas Iron, which runs the Mt Webber mine, according to Hancock’s directors’ report. The group continued to explore and progress the approvals process for the Grassy Mountain metallurgical coal project in Canada’s Alberta.
Roy Hill is the group’s largest source of revenue and…
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