Australia’s Most Successful Private Mining and Agriculture Business

31 March 2020
By James Radford, External Affairs Manager, Hancock Prospecting Group

I’m excited to be taking part in this year’s AmCham Academy in what is already a unique and extraordinary year!

Working for the country’s most successful and hardest working businesswoman, Mrs Gina Rinehart, a true patriot of our country, is a remarkable opportunity I don’t take lightly.

Since assuming the Chairmanship of Hancock Prospecting in early 1992, Mrs Rinehart has changed Hancock from a business that was a fraction of the size it is today into Australia’s most successful private mining house and agribusiness, and one of the most successful private companies in Australia’s history.

When she took over, the company was in severe financial difficulty with its few remaining assets heavily mortgaged or under legal threat or claim with huge liabilities (or contingent liabilities).

Today, Hancock owns and operates many top tier-one mining assets, and has agricultural interests across Australia.

In the mining sphere, Hancock is the majority owner of the mega US$10 billion Roy Hill iron ore project which produces in excess of 55 Million tonnes per annum (Mtpa) making it Australia’s single largest iron ore mine. In addition, Hancock founded and is today a 50:50 joint-venture partner in the 47Mtpa Hope Downs iron ore project which comprises four major mines exporting Australian ore to the world. Hancock also owns Riversdale Resources (high quality coking coal asset in Canada), Hanrine Exploration and Mining (copper gold exploration project in Ecuador), is involved in the Sirius Minerals project in the UK and has invested in successful gold exploration near Bendigo, Victoria. It has been exciting for me to visit most of these projects, and to have the opportunity of working at some of them as well.

With over 25 properties in our portfolio, Hancock’s world-class agribusiness is the country’s second largest producer of beef with a total herd capacity size of over 340,000. I’ve also had the opportunity to visit many of these properties, and work on the iconic Fossil Downs station in the Kimberley’s, WA.

The Hancock Group has a long and proud history in agriculture on both sides of our chairman’s family and has expanded its interest into prime wagyu beef under our brand ‘2GR’, and has partnered with the award winning Bannister Downs Dairy. Hancock is also the majority owner of the iconic S. Kidman & Co cattle business.


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