News Articles for Hancock Prospecting

Gina Rinehart's Hancock Prospecting has lifted its stake in Perth Basin gas play Warrego Energy to 25.9 per cent as a stand-off looms with rival bidder Strike Energy.

Hancock Energy has revealed a cohort of Warrego shareholders pledging to support Gina Rinehart's $342 million cash offer for the business, hitting back at a scrip bid from Strike Energy.

Business News values the assets of WA's richest people, and explores how they've used that wealth in 2022.

The board of ASX-listed oil and gas company Norwest Energy will wait until the new year to cast its verdict on Chris Ellison's offer for the business amid fierce competition for Perth Basin assets.

John Poynton-chaired Strike Energy has lobbed another scrip takeover proposal for joint venture partner Warrego Energy, countering a $342 million cash offer from Hancock Energy currently on the table.

Senior journalist Matt Mckenzie talks about Business News' latest rich list and delves into what went into this year's edition.

Gina Rinehart's Hancock Prospecting has failed in its bid to delay a Supreme Court trial over royalties from the Hope Downs tenements.

The board is set for Gina Rinehart's Hancock Energy to take control of Perth Basin desirable Warrego Energy after Kerry Stokes-backed Beach Energy declined to match a $342 million cash offer.

Strike Energy has muscled back in amid the fight for ownership of its joint venture partner Warrego, lifting its stake in the target to 19.9 per cent to become its biggest shareholder.

White Cliff Minerals has polished off a high-resolution magnetic and radiometric survey at its Yinnetharra lithium and rare earths project about 100km northeast of Gascoyne Junction in WA. The operation is within earshot of several high-profile plays including Hastings Technology Metals' world-class Yangibana rare earths acreage and Arrow Minerals' emerging Reid Well prospect where rock chip sampling returned grades of up to 3.77 per cent lithium oxide.

Hancock Prospecting will take up a 10 per cent stake in Arafura Rare Earths via the ASX lister's latest capital raising and another show of diversity for the Rinehart investment wheelhouse.

Warrego Energy shares are continuing skyward as investors wait to see whether Stokes-backed Beach Energy will match rival bidder Gina Rinehart's $350 million cash offer for the Perth Basin developer.

Hancock Prospecting has lifted its bid for Warrego Energy to almost $350 million just hours after Kerry Stokes-backed Beach Energy upped the ante.

Gina Rinehart's Hancock Prospecting has fallen short of last year's mega profit, posting a $5.8 billion bottom line for 2022 as it flags new growth and investment plans.

Senior editor Mark Beyer talks about some of the innovative ways that WA's biggest businesses are retaining employees.

Gina Rinehart's Hancock Prospecting could help solve a looming WA gas shortage, pledging to boost Perth Basin investment as it becomes the third company chasing Warrego Energy.

Gina Rinehart has continued to reap big gains from the iron ore sector, with Roy Hill Holdings declaring another large dividend despite a fall in annual profit.

Hancock Prospecting subsidiary Atlas Iron has paid a maiden dividend of $225 million despite a big fall in annual profit and plans to invest $700 million in new iron ore projects.

Behemoths of Western Australia's resources sector will tip $750 million into a new community investment initiative to bankroll a cohort of legacy projects in the state.

A $6 billion plan to expand the Roy Hill iron ore operation to 100mtpa will be put at risk by the federal government's proposed IR changes, Hancock Prospecting has warned.

St George Mining has moved quickly to top up its landholding at its Mt Alexander project near Leonora following the discovery of lithium mineralisation during its maiden drill program adding an exploration licence to its portfolio and lodging an application for a prospecting licence. Both tenements are neighbouring St George's Jailbreak prospect where the company currently has an aggressive drilling program underway.

New data reveals just how much WA businesses contributed to the federal treasury during the pandemic, with 10 corporates paying $27.5 billion in the year to June 2021.

Rio Tinto and Wright Prospecting have paved the way for development of a major new, high-grade iron ore mine that will be pivotal to the future of both companies.

After further field work, mineral explorer St George Mining believes it has significantly expanded the lithium potential of its Mt Alexander nickel — and now lithium — project 95km west of Leonora in WA. Since first announcing it was on the lithium trail in early September, the explorer has identified an increasing number of pegmatite outcrops in its field mapping efforts across a 15km zone of pegmatite dykes at its project.

Family offices are becoming more prominent in the investment space.

Hancock Prospecting has paid what is believed to be a record price for the six-storey building currently occupied by Santos.

Resources billionaire Gina Rinehart has been named Australia's wealthiest person for a third consecutive year, followed closely by fellow Western Australian and iron ore magnate Andrew Forrest.

WA, and the Pilbara in particular, stand to benefit from federal budget funding for ‘transformational' projects.

Hancock Prospecting's plan to earn-in to a slice of a Yilgarn magnetite project is proceeding, with the deal finalised just days after a new trade agreement with India.

A likely change of power in Canberra this year will have little bearing on the makeup of WA's political and business leaders. Click through to see our updated ranking of WA's 50 Most Influential.

Western Australian billionaires Gina Rinehart and Andrew Forrest have topped the list of Australia's wealthiest 250 for 2022, with Canva founders Melanie Perkins and Cliff Obrecht scoring a spot in the top 10.

Hancock Group has been cleared to proceed with its largest investment into the energy sector after the federal court approved its joint bid with POSCO to acquire Senex Energy.

Atlas Iron's Miralga Creek mine has produced its first iron ore, with the project built by a joint venture including Indigenous contractor East West Pilbara.

Gina Rinehart-led Hancock Prospecting's Mulga Downs iron ore project will be subject to a major review by the environmental watchdog.

The businesses that dominate the unlisted landscape are very different from 20 years ago.

New data details the expansion of Andrew and Nicola Forrest's private company, Tattarang. Click through to see our latest ranking and analysis of Western Australia's largest private companies.

The state government has managed to strike a deal that promises to satisfy each of the mining giants battling for a larger slice of the port of Port Hedland.

Hancock Prospecting has struck agreements to sell eight cattle stations across Australia and is looking to sell two more but said it remains committed to the agriculture sector.

Gina Rinehart's Hancock Prospecting has established a formal partnership with the Australian Olympic Committee, extending her long-running support for multiple Olympic sports.

Fortescue Metals Group has continued to surprise the market with its ambitious plans, striking an agreement with Sinosteel to evaluate a magnetite mine in the Mid West and a port at Oakajee.