[New post] Rinehart’s Hancock Prospecting’s $5b profit

roymorgansocial posted: "Original article by Brad Thompson The Australian Financial Review - Page: 13 : 1-Nov-23 Hancock Prospecting has reported an annual profit of $5.04bn for the year to 30 June, compared with $5.81bn in the previous financial year. The result was marred by l" ABIX Rinehart's Hancock Prospecting's $5b profit roymorgansocial Nov 1 Original article by Brad Thompson The Australian Financial Review - Page: 13 : 1-Nov-23 Hancock Prospecting has reported an annual profit of $5.04bn for the year to 30 June, compared with $5.81bn in the previous financial year. The result was marred by lower iron ore prices, with Hancock holding controlling stakes in both Roy Hill and Atlas Iron. Hancock also receives royalties from the Hope Down iron ore mines that are operated by Rio Tinto, and which are the subject of a long-running legal dispute with Wright Prospecting. Meanwhile, Hancock has warned that Australia's international competitiveness in the resources sector is being undermined by red tape and the amount of time it takes to get projects approved. CORPORATES HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD, ATLAS IRON LIMITED, RIO TINTO LIMITED - ASX RIO Comment You can also reply to this email to leave a comment. Manage your email settings or unsubscribe. Trouble clicking? Copy and paste this URL into your browser: http://abix.com.au/2023/11/01/rineharts-hancock-prospectings-5b-profit/

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