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Rinehart beefs up wagyu herd with breeding, buying

by 21 January 2018

AFR Weekend, by Brad Thompson
20 Jan 2018

Gina Rinehart may be the owner of world’s biggest full-blood and pure bred wagyu herd, but says she has no intention of hanging her hat on that title.

Mrs Rinehart’s private company Hancock Prospecting is focused on building an even bigger and better quality wagyu herd through breeding programs and more acquisitions.

In an interview with AFR Weekend, the billionaire, 63, revealed that only financial commitments in iron ore mining prevented her becoming a major investor in agriculture earlier in her business career.

“I have long wanted to diversify from all my eggs in one basket… but with commitments to hold tenements and to pay back borrowings, this motivation had been on hold,” she said.

Hancock Prospecting owns more cattle properties and associated production assets in its own right than through its majority stake in S. Kidman &Co.

The investment in agriculture in recent years, topping $1 billion when Kidman and a potash project in the UK are added, includes a string of wagyu assets.

“Why wagyu? It’s because I believe in investing in good products and the wagyu we’ve acquired is at least some of not only the best in Australia but also the world,” Mrs Rinehart said.

It is estimated that Hancock Prospecting now has about 15,000 fullblood wagyu cattle in Australia.

The numbers swelled just before Christmas with the acquisition of cattle and properties in western Queensland from veteran Australian wagyu producer Wally Rea.

The $40 million-plus purchase included thousands of cows and calves as Hancock Prospecting continues to build its high-end 2GR wagyu brand.

The latest acquisition appears to have pushed Hancock Prospecting past the Australian Agricultural Company nationally and possibly to No. 1 globally in terms of full-blood and pure bred numbers.

However, industry observers admit comparisons are difficult and vary with how the wagyu name is applied to cross-bred cattle and in different jurisdictions.

Mrs Rinehart told The Australian Financial Review that Hancock Prospecting was not interested in who had the biggest herd.

“We’re just wanting to maintain our truly excellent quality,” she said. “What does impress me is that we have developed one of the world’s best wagyu products, with demand in some of the best culinary environments in the world.”

Hancock Prospecting’s wagyu production is built around breeding and growing cattle in NSW and then fattening and processing them in Queensland. The company is also using wagyu bulls in a major cross-breeding program on its pastoral stations in Western Australia and the Northern Territory.

The 2GR brand was launched by Mrs Rinehart at the John Dee processing plant in Warwick, Queensland, less than 12 months ago with the loading of 12 tonnes of boxed beef bound for China Exports grew from a container load a month to a container load a week to Asian markets prepared to pay a premium, but more recently sales in Australia have steadily increased.

The brand’s traction in the domestic market and the company’s focus on local sales has surprised those who saw the business as solely focused on exports. Mrs Rinehart said there was strong demand for the 2GR brand in the Australian fine dining market “We are very pleased to be moving our 2GR wagyu into Australia’s best restaurants, and would like to maintain this as a priority,” she said.

“We are especially keen to sell our product in Australia and into the world’s finest restaurants, including those in Asia, and our quality of product underpins this.

“There is no specific target for herd numbers and off-take, we are focused on continuing our leading quality and wanting to continue to invest in Australia assuming we can continue to be cost competitive internationally.”

Mrs Rinehart said her family’s involvement in the West Australian cattle industry dating back four generations gave her “some confidence to invest in the industry I was brought up in before mining”.

The plans for the Kidman properties purchased with China’s Shanghai CRED late in 2016 include major investments in infrastructure and technology, including the use of drones, communications upgrades and sophisticated cattle monitoring.

Mrs Rinehart said morale was high at the stations she visited before a Kidman board meeting in December, but some improvements had taken longer than expected to roll out “The station staff hugely welcome the investments we are making,” she said. “More board-approved investment will flow in 2018 to continue to improve the stations.”

Presentation of BergeToubkal Model to the Ships Godmother Mrs Gina Rinehart

by 22 December 2017

Hancock Prospecting

Yesterday Duncan Bond, the Chief Commercial Officer of Bergebulk, visited HPPL’s Headquarters in West Australia, to formally present Mrs Rinehart with a model of the Berge Toubkal, their new 210,000DWT bulk carrier that was launched in July in China , with our Chairman Mrs Rinehart appointed as the ships’ godmother. There was a ceremony with speeches where our CEO, Garry Korte mentioned how pleased Mrs Rinehart was to be honoured as the Godmother of the Berge Toubkal and that consistent with Bergebulks’ motto “moving mountains” , there would now be more mountains to move from Roy Hill. Duncan Bond acknowledged how important relationships were with Mrs Rinehart and Hancock and how thrilled Bergebulk were that Mrs Rinehart had accepted the appointment as Godmother to the BergeToubkal. He also talked about the Bergebulk business and some of the history and naval traditions around ship names and Godmothers. Bergebulk’s ships are all named after mountains as the word Berge in Norwegian means mountain – Toubkal is a famous mountain in Morocco.

There is a long standing naval tradition of influential women being appointed as Godmothers of ships. Mrs Rinehart is in company of being such a Godmother with Her Majesty Queen Elizabeth II, who was appointed as Godmother of Britannia, Sophie Loren for MSC Cruises ships, Dame Helen Mirren for Venturra, Dame Judi Dench for Carnival Legend, Her Majesty Queen Máxima of the Netherlands the Godmother of the MS Koningsdam and recently internationally acclaimed Chinese actress Fan Bingbing the Godmother of Ovation of the Seas. The tradition of having women christen ships began in the British Royal Navy. Before the 19th century, it was strictly men and usually members of the royal family, senior naval officers or Admiralty officials. When civilians first began to be given the honour, women were also included – and they have slowly become the go-to gender for ship patrons. The practice moved to the United States and the western world, and the US Navy has a very strong “Society of Sponsors” made up of women who have taken part in the time honoured tradition.

As Godmother Mrs Rinehart is entitled to a cruise on her ship. She is hoping this may be possible in March 2018, when the ship visits Port Hedland for the first time to load Roy Hill ore.

 

Gina Rinehart supports flying doctor service

by 18 December 2017

Bendigo Advertiser, 18 December 2017

by Chris McLennan

The Royal Flying Doctor Service Central Operations (serving SA/NT) has announced the launch of a major partnership with outback icon and one of the nation’s largest beef producers, S. Kidman & Co.

In recognition of the $500,000-plus sponsorship deal, a RFDS ‘flying intensive care unit’ bearing the S. Kidman & Co logo was unveiled last week by the company’s Executive Chairman, Gina Rinehart, at the RFDS’ aeromedical base at Adelaide Airport.

The medically-equipped aircraft, the Pilatus PC-12 VH-FXW (Foxtrot-X-ray-Zulu), is one of 67 RFDS aircraft located across the country, many of which serving the outback areas of central and northern Australia where the S. Kidman & Co stations and communities operate.

S. Kidman & Co runs over 160,000 beef cattle across 11 pastoral properties and a feedlot covering 80,000 square kilometres in three states and the Northern Territory. It is owned by Australian Outback Beef, a joint venture of Hancock Prospecting and Shangai CRED.

Hancock Prospecting Executive Chairman, Mrs Gina Rinehart, says she is very pleased to be aligning the S. Kidman & Co brand alongside Australia’s leader in aeromedical and primary health care in rural and remote Australia.

“The RFDS has provided a lifeline to the bush communities for almost 90 years.

“It’s remarkable to think that in South and Central Australia alone the RFDS airlifts 25 patients every day – over 100 across the country every day,” Mrs Rinehart says.

“Our board and our staff are proud to be playing a role in helping to make this happen, and to now have the Kidman brand on a RFDS ‘flying intensive care unit’ that will conduct two missions every day is something we hope will be helpful to many people and help to save lives,” she says.

RFDS Central Operations chairman, Loretta Reynolds, says the impact of S. Kidman & Co.’s direct financial support will be far reaching.

“The RFDS relies on bequests, corporate partnerships and donations to bridge the gap in our operational funding and to finance our capital-raising for the purchase of our aircraft, medical equipment and infrastructure upgrades,” Ms Reynolds says.

“RFDS Central Operations will invest $50 million in capital over the next five years for the replacement of existing aircraft in our fleet, as well as the introduction next year of the RFDS PC-24 Jet – South Australia’s first purpose-built aeromedical jet – together with medical equipment and infrastructure upgrades,” she says.

“The continued support from the entire community – our ‘ground crew’ of donors, community fundraisers, corporate sponsors and volunteers – will be critical to us meeting our financial challenges, and we’re very delighted to have Mrs Rinehart and S. Kidman & Co on board with us on this very important and critical journey.”

VH-FXZ or ‘Zulu’ as it is known to crews, is the newest $7 million ‘flying intensive care unit’ to join the RFDS Central Operations fleet located across Adelaide, Port Augusta, Alice Springs and Darwin bases. ‘Zulu’ is the 1500th PC-12 manufactured by Pilatus – and the 20th delivered to RFDS Central Operations who was also the global launch customer of the Pilatus PC-12 in 1995.

In just its first ten weeks of service to the community, ‘Zulu’ has transported 119 patients from 38 rural and remote locations throughout South Australia – and beyond.

The aircraft came into aeromedical service on 1 October this year and has been tasked to airlift injured and critically-ill patients throughout South Australia, from regional centres such as Mt Gambier, Renmark and Port Lincoln, to outback locations as diverse as Coober Pedy, the Nullarbor and Marree on the Birdsville Track.

Its first interstate flight came on October 10; the transfer of a newborn baby from Adelaide to Melbourne for life-saving heart surgery.

For the next decade VH-FXZ will continue to assist members of the community, delivering services ranging from the:

• emergency evacuation of the injured or critically-ill from outback communities;
• aeromedical transfer of patients interstate for live-saving surgery such as organ transplant and heart surgery on newborn babies;
• delivery of essential primary health care such as GP consultations and immunisation of children during ‘fly-in’ health clinics to remote communities; and
• transfer of patients from regional and bush hospitals to major hospitals in Adelaide, Alice Springs and Darwin for higher levels of care.

Icons band together with Kidman, RFDS partnership

by 16 December 2017

16 December 2017

Stock Journal

A PARTNERSHIP between major outback icon S Kidman & Co and the Royal Flying Doctor Service Central Operations will help keep a ‘flying intensive care unit’ in the sky.

The $500,000-plus sponsorship deal will mean the Pilatus PC-12 VH-FXW will bear the S Kidman & Co logo as it serves SA and NT, covering areas where the beef producer operates.

Kidman’s executive chairman Gina Rinehart was on site at the RFDS’ aeromedical base at Adelaide Airport for the unveiling of the logo and said she was pleased to align the S Kidman & Co brand alongside Australia’s leader in aeromedical and primary health care in rural and remote Australia.

“The RFDS has provided a lifeline to the bush communities for almost 90 years,” she said.

“It’s remarkable to think that in South and Central Australia alone the RFDS airlifts 25 patients every day – over 100 across the country every day.

“Our board and our staff are proud to be playing a role in helping to make this happen, and to now have the Kidman brand on a RFDS ‘flying intensive care unit’ that will conduct two missions every day is something we hope will be helpful to many people and help to save lives.”

RFDS Central Operations chair Loretta Reynolds says the impact of S Kidman & Co’s direct financial support will be far reaching.

“The RFDS relies on bequests, corporate partnerships and donations to bridge the gap in our operational funding and to finance our capital-raising for the purchase of our aircraft, medical equipment and infrastructure upgrades,” Ms Reynolds said.

RFDS Central Operations will invest $50 million in capital in the next five years for the replacement of existing aircraft in our fleet, as well as the introduction next year of the RFDS PC-24 Jet – South Australia’s first purpose-built aeromedical jet – together with medical equipment and infrastructure upgrades.

“The continued support from the entire community – our ‘ground crew’ of donors, community fundraisers, corporate sponsors and volunteers – will be critical to us meeting our financial challenges, and we’re very delighted to have Mrs Rinehart and S. Kidman & Co on board with us on this very important and critical journey.”

VH-FXZ or ‘Zulu’ as it is known to crews, is the newest $7 million ‘flying intensive care unit’ to join the RFDS Central Operations fleet located across Adelaide, Port Augusta, Alice Springs and Darwin bases.

It is the 1500th PC-12 manufactured by Pilatus – and the 20th delivered to RFDS Central Operations who was also the global launch customer of the Pilatus PC-12 in 1995.

In just its first 10 weeks of service to the community, ‘Zulu’ has transported 119 patients from 38 rural and remote locations throughout SA – and beyond.

The aircraft came into aeromedical service on October 1 this year and has been tasked to airlift injured and critically-ill patients throughout SA, from regional centres such as Mount Gambier, Renmark and Port Lincoln, to outback locations as diverse as Coober Pedy, the Nullarbor and Marree on the Birdsville Track.

Donald Trump Cuts Red Tape

by 15 December 2017

Donald Trump Cuts Red Tape

Inaugural National Agriculture and Related Industries Day – Canberra 2017

by 8 December 2017

Inaugural National Agriculture and Related Industries Day – Canberra 2017

2017 National Mining and Related Industries Day – Sydney

by 8 December 2017

2017 National Mining and Related Industries Day – Sydney

National Ag Day celebrations underway

by 27 November 2017

21 November 2017 Farm Weekly

Celebrations of all things agriculture are taking place across Australia today as part of the first National Agriculture and Related Industries Day (AgDay).

The brainchild of Gina Rinehart from Hancock Prospecting, AgDay is being supported by the National Farmers’ Federation (NFF) and the Federal Department of Agriculture and Water Resources.

WAFarmers president Tony York said it was a great way to instill pride in the farming sector and other related industries.

“The importance of agriculture to the Australian economy cannot be overstated; it is our second largest export industry, the nation’s fastest growing industry, and this year the sector achieved a record farm gate return of $60 billion,” he said.

“The NFF yesterday released findings from a nation-wide survey which found that 83 per cent of Australians would describe their connection with farming as ‘distant’ or ‘non-existent’, which was quite disheartening.

“By raising awareness of the farm sector through celebrations such as AgDay, it is anticipated that Australians will reconnect with the story of agriculture and find a new appreciation for the production of the food and fibre that we all know and love.

“Everybody in agriculture has a story to tell, and the AgDay will provide a fantastic platform on which to both acknowledge and celebrate these stories.”

Mr York encouraged everyone involved in agriculture and ancillary businesses to get involved in the AgDay festivities in some way, shape or form.

“It can be as simple as testing your farming know-how by taking the AgDay Quiz, participating in AgDay events, or sharing photos on social media and using the AgDay hashtag to get the conversation flowing,” he said.

“I will be celebrating AgDay in my own way by sitting on the header in Tammin and reaping the rewards of a year’s worth of work.”

AgDay will be celebrated with a black tie Gala Dinner at the National War Memorial in Canberra tonight, hosted by Hancock Prospecting.

Gina Rineharts speech to National Mining and Related Industries Day

by 23 November 2017

Speech by Mrs Gina Rinehart
Patron and Founder of National Mining & Related Industries Day
Executive Chairman of the Hancock Prospecting Group and Roy Hill
National Mining & Related Industries Day
Wednesday 22 November 2017, Sydney

Good evening distinguished guests, Ministers, Members of Parliament, friends and mining colleagues.

It is wonderful to celebrate with you the fifth annual National Mining & Related Industries Day, an important day on our nation’s calendar.

Welcome everyone and welcome to two very hard working Australians who are here with us tonight, Anthony Pratt and Harry Triguboff AO.

Can I start by thanking Julian Malnic, Sharon and the Sydney Mining Club and my own staff, especially Talitha and James, for helping organise tonight’s function.

Can I also extend a very big thank you to our gold sponsors ANZ, BNP Paribas, Hitachi, NAB, PwC, Roy Hill, WesTrac, most of whom have supported our earlier years, and our silver sponsors the NSW Minerals Council, Downer, Glencore and Telstra. We could not put tonight on without you – thank you very much for your welcome support – it is much appreciated.

And thank you to all our speakers tonight, including the Minister for Resources and Northern Australia, Senator Matt Canavan.

Please join me in thanking our sponsors and contributors.

Thank you also to our fantastic MC, Anthony Roberts MP. We are so delighted you are here with us.

I have an easy task tonight thanks to the speakers who will be following me.

Tom Albanese has prepared a video for you, and sends his apologies for not being able to be with us in person.

As you would know, Tom has a wealth of experience in the mining industry, through Rio Tinto especially where he rose to CEO, and more recently, his years at Vedanta Resources, a largely Indian company, also its CEO.

Tonight, Tom will tell us important messages about the vast changes in India, changes through the reduction of their notorious Indian government red tape.

He will touch briefly on India’s huge and largely untapped mineral resources and human resources too, with many millions of people wanting to work.

He says when India fixes its mind on doing things under Prime Minister Modi, things happen.

Given India’s strive for economic greatness, if we want to see mining investment on any significant scale happening in Australia in future, we better take heed of India’s actions and huge resources and quadruple our efforts to let our government know, our industry needs to be cost competitive internationally.

That means we need to see urgent and significant reductions in red tape, compliance, taxes and all government costs or we risk seeing our highly experienced, world‐class mining industry professionals leave to help service mines in India, and other places less expensive than Australia, and more friendly to investment.

To those not from Australia, with families and the next generation to consider, one could wonder, well, what is wrong with just being a service provider?

Think of just one recently constructed mega mine, Roy Hill, with more than 10 billion dollars of investment.

What happens to that investment? It spreads not only through our state but also throughout our country, and it does not stop there.

Billions of dollars of revenue flows from such mega projects for decades, providing opportunities, jobs and billions in taxation.

Could we expect the same benefits from service industries? Would service industries provide the massive investment, the revenue, opportunities and jobs for Aussies on Australian soil that investment in the mining industry in Australia brings?

It’s time we addressed with more urgency, don’t you think, the two T’s, less government red tape and less government taxes and other costly burdens.

With all our abundant natural resources, that could ensure we should have reliable and inexpensive energy, but due to the government, and their changing policies, this has ensured we don’t have reliable energy and only increasingly expensive power. A real struggle for those on low incomes.

Scot MacDonald from the NSW Parliament, who has given some insightful addresses in Parliament, will be speaking to us tonight sharing with us his firsthand experience in the USA.

Thank you and Happy National Mining and Related Industries Day! I will leave you with a song created by my friend Jim Viets, for National Mining and Related Industries Day, “Mining Permit Blues.”

Rinehart: Copy Trump

by 22 November 2017

22 November 2017 The West Australian

by Jenne Brammer

Billionaire Gina Rinehart has called on Australian governments to follow the examples of US President Donald Trump and Indian Prime Minister Narendra Modi in creating a more internationally competitive environment by cutting company taxes and red tape.

Ms Rinehart said in a speech in Canberra last night that Mr Trump won the US election because he and his team listened to Americans.

“He is now delivering for America and, despite the naysayers who didn’t vote for him but have a loud voice, what was a struggling economy is now rebounding,” she said. “(His) work in cutting government tape and company tax is making it better to do business in America, stimulating investment and creating thousands of jobs.” Ms Rinehart said Australia could also learn from India, which was enjoying great success after the “very dedicated” leadership of Mr Modi cut out a lot of that country’s notorious red tape.