All eyes on iron ore in Western Australia

17 December, 2022

Western Australia’s Iron Ore mining industry is drawing attention. Australia is the largest producer of iron ore in the world with $134 billion earned in export revenue in FY22.

Hancock Prospecting executive chair Gina Rinehart’s recent investments in gas and critical minerals have not shifted her presence in the iron market. Thanks to an initial deal struck in 2018, Rinehart has fully united both Roy Hill and Atlas Iron under one roof.

Roy Hill chief executive Gerhard Veldsman, will become CEO of group operations at Hancock. The new title will come with added responsibilikty for Roy.

As well as Hancocks expanding business, BHP is looking to secure long-term partnerships with rival industry players and the WA Government.

Last month the Resources Community Investment Initiative (RCII) was initiated by BHP, Rio Tinto, Woodside and Chevron, along with the WA Government.

BHP Western Australia Iron Ore (WAIO) asset president Brandon Craig welcomed the mass partnership.

“BHP has a long and proud history in Western Australia, and we welcome the collaborative approach taken by the WA Government and the mining industry to strengthen our significant contribution to this great state,” Craig said.

“Over the past 10 years, we have contributed more than $4.3 billion in social, community and training programs in Perth, the Pilbara, Port Hedland and the Goldfields, on top of tens of billions of dollars in investment, jobs, royalties and taxes.

“We look forward to furthering our support for long-term social and economic outcomes in the regions where we operate, and for all West Australians.”

BHP’s WAIO operation contributed $44 million to various WA community projects in FY22 via its social investment program.