Blog

Gina grows cattle empire

by 17 October 2017

10 October 2017
Northern Territory News

The NT’s largest land owner, Gina Rinehart, has added to her vast empire with the purchase of the 171,000 hectare Willeroo pastoral property 100km west of Katherine.

Willeroo takes the number of Territory cattle stations Ms Rinehart has a stake in to six.

The owner of Hancock Pastoral – and Australia’s richest person, worth an estimated $19.4 billion – Mrs Rinehart has spent more than $200 million on stations in Western Australia’s Kimberley Region and in the Northern Territory.

It is not known what Mrs Rinehart paid for Willeroo, but it was previously on the market for $12 million before being sold by the Sultan of Brunei for an undisclosed sum to Indonesian feedlotting company Great Giant Livestock.

Mrs Rinehart has made no secret of her ambitious expansions plans for her growing cattle empire with the Darwin port to have a key role.

Earlier this year she signed a deal that will see 150,000 head of cattle shipped to China from Darwin.

Mrs Rinehart said the purchase of Willeroo was a strategic investment because of its proximity to Aroona Cattle station, which she purchased in March.

Aroona is on 150,000 hectares and holds 15,000 head of Brahman cattle and Willeroo is directly adjacent and runs 20,000 head.

“We secured Willeroo because we believe we can add improvements and value to the station,” Ms Rinehart said.

“We will copy what we have introduced successfully on our other Hancock stations, and are currently rolling out across Kidman properties.

“Willeroo will well complement our existing investments in the north. It is adjacent to Aroona, which we acquired earlier this year, allowing us to operate the two stations as a combined unit.“Also being near to the Phoenix Park export depot it will assist part of the wet season growing program for Riveren and Inverway as well as help to provide better market timing opportunities for some of Hancock Beef’s Kimberley cattle stations.”

Exports grow as Chevron, Roy Hill ramp-up

by 17 October 2017

16 October 2017

Business News

Western Australia’s 10 biggest exporters shipped $96 billion worth of products overseas over the past year, an increase of almost 10 per cent on the previous corresponding period, according to research by Business News.

Four iron ore miners are ranked in the top 10 biggest exporters list, with exports of the steelmaking commodity totalling about $60 billion between them.

They were led by Rio Tinto, with iron ore sales from its operations of $24.1 billion in calendar year 2016, its most recent full-year reporting period.

That figure includes the equity share of Rio’s joint-venture partners, including Hancock Prospecting.

Rio’s export numbers are bolstered to $24.9 billion when including the Dampier Salt and Argyle Diamond operations, calculations by Business News found.

The state’s second biggest exporter was BHP Billiton.

BHP shipped about $22 billion of iron ore in the latest financial year, an increase of nearly $6 billion on the previous period largely driven by improved iron ore prices.

The figure is for the operation as a whole, and includes both BHP’s equity share and the shares of partners such as Japanese company Mitsui & Co.

Sales from the Nickel West arm of the business were up around $200 million to be $1.3 billion for the year, giving BHP total exports of $23.2 billion.

Fortescue Metals Group was in fourth place, with sales of $11.2 billion, around 15 per cent higher than the previous period, while new entrant Roy Hill Holdings was in eighth position with exports of $3 billion.

Roy Hill, which is 70 per cent owned by Gina Rinehart’s Hancock Prospecting, is likely to be hitting an annualised run rate of 55 million tonnes most months by December.

Energy producers are also beginning to stake a claim on the BNiQ Search Engine list, with third placed Woodside Petroleum joined by Chevron Australia following the start-up of the Gorgon project in 2016.

Woodside’s export revenue as the operator of Pluto LNG, North West Shelf Venture and projects under the Australia Oil umbrella was $15.5 billion in calendar 2016, its most recent financial year reporting period.

That was about $3 billion lower than in the previous period, driven largely by lower revenues through the North West Shelf project.

Business News estimates revenue from North West Shelf Venture to have been $9.3 billion, down partly due to reductions in condensate and oil sales, while Pluto sales were roughly stable at $3.4 billion.

Chevron has entered the list in ninth place, with $2.9 billion of revenue from the Gorgon project in the 2017 financial year, according to estimates by consultancy EnergyQuest.

About 6.5mt of LNG was shipped from Gorgon by the US-headquartered company over that 12-month period, EnerqyQuest found.

Data from the state Department of Mines, Industry Regulation and Safety shows a big boost to the state’s LNG exports from the start-up of Gorgon, with a statewide production volume of 28.7mt in the 12 months to June 2017.

The shipments were valued at around $12.7 billion, an increase of about 20 per cent on the previous year, according to that data.

The BNiQ Search Engine number for revenue from the three LNG facilities is higher due to the inclusion of oil, condensate and LPG sales.

With Gorgon’s third and final processing train having begun operation last March, Chevron can be expected to ship close to its capacity of 15.6mtpa in the 2018 financial year, which at current prices would mean revenue of about $7 billion per year.

The recent start of production at the Wheatstone project would provide a further boost for Chevron, with full capacity of about 8.9mtpa.

Both Wheatstone and Gorgon operating at full capacity would mean the two Chevron operations producing exports of at least $10 billion, putting the company into fifth place on the BNiQ Search Engine list, assuming 2017 financial year LNG prices.

Prelude operator Shell will join the list when that project is completed.

The four other businesses rounding out the top 10 will be familiar to readers.

Gold Corporation, the only state-owned entity on the list, exported around $7.9 billion of precious metals in the 2017 financial year, about 9 per cent lower than in the previous period.

Almost all gold mined in WA is processed through the corporation’s refinery.

The two alumina exporters, Alcoa of Australia and Worsley Alumina operator South 32, placed in seventh and 10th respectively, with combined exports of nearly $5 billion.

Grain handling cooperative CBH Group again featured on the list, with forecast exports of $3.1 billion, although that number is not the company’s finalised figure.

The cooperative was the only non-resources player to feature.

Four more iron ore miners hold positions in the group from 10th to 20th, including Citic Pacific Mining.

Business News has calculated a revenue figure of $1.2 billion for the Chinese company’s Sino Iron project using reported tonnage figures and the current market price for iron ore.

That makes the estimate conservative, as magnetite is usually processed to be a higher grade than the hematite exported by other producers.

Iron ore exporter Mineral Resources also features in the top 20, having expanded its ambit to include other commodities such as lithium.

Ramp-up

Speaking at a recent WA Mining Club lunch, Roy Hill chief executive Barry Fitzgerald said the company had hit its capacity 55mtpa run rate in the month of September.

The coming months would bring a reduction from that level, Mr Fitzgerald said, due to planned shutdowns, but he expected the project would be consistently operating at capacity by the end of the year.

Roy Hill had an ambitious ramp up target, he said.

“We set a big, hairy, audacious goal about a very rapid ramp-up,” Mr Fitzgerald told the forum.

“Originally it was going to be 15 months; we didn’t get the plant until February (2016) so we thought we’d leave it at 10 months.

“We didn’t make that.”

The operation ran into issues last November when production plateaued at an annualised run rate of around 35mt.

“The reality was that the orebody had a few more difficulties than we thought; the material was much harder (than anticipated), there were difficulties in blending,” Mr Fitzgerald said.

That led to significant unforeseen wear on equipment.

Mr Fitzgerald said the company changed its approach to mining and materials handling at the site’s three pits.

This contributed to a big improvement in throughput in July 2017, which was nearly 70 per cent higher than in the previous month.

The business has further plans to boost productivity, according to Mr Fitzgerald, including improving train operation efficiency to lift the number of ore moving trips from 5.5 to six per day.

That will be followed by the introduction of cruise control, and potentially, an eventual move to automated trains similar to the system being pursued by Rio Tinto.

Automation is also being introduced in the company’s drilling operations by the second quarter of next year.

Mr Fitzgerald said that could unlock efficiencies by enabling deeper data analysis of orebodies.

 

Speech by Mrs Gina Rinehart to the Pastoralists and Graziers Association of Western Australia (PGA) 2017 Convention

by 28 September 2017

27 September 2017 Hancock Prospecting

Good morning pastoralists and graziers, friends.

Thank you very much for inviting me to speak at your convention, “pathways to prosperity.”

My family has had a very long association with the Pastoralist and Graziers Association, and a long history in the pastoral industry, dating back to the northwest when our family on my father’s side was amongst the first settlers in the second half of the 1800s and its first pastoralists. And on my mother’s side, her father James Nicholas, both separately and including in association with his long term friend and another remarkable Australian, Sir Sydney Kidman, also had a long tradition of pastoral interests.

It is a very special honour for me to now address pastoralists and graziers and the PGA at your convention. Thank you.

To read the full transcript of this speech, please click Speech by Mrs Gina Rinehart to the Pastoralists and Graziers Association of Western Australia (PGA) 2017 Convention

Business delegation to showcase Northern Territory to Canberra decision-makers

by 27 September 2017

11 September 2017 NT News

TAX incentives to encourage populating Northern Australia will be raised by Chief Minister Michael Gunner and a major business delegation in Canberra this week.

Mr Gunner has already raised the issue with Deputy Prime Minister and Minister for Northern Australia Barnaby Joyce and received support from one key North Queensland Liberal MP, Warren Entsch.

“(There has) been early conversations with the Deputy Prime Minister at how the tax zone rebate works in the north,” Mr Gunner said. “It hasn’t changed or been touched in a very long time.

“How can we structure that in a way that builds our population?”

Former Prime Minister Kevin Rudd floated the idea of incentives during the 2013 election.

Influential Liberal MP Warren Entsch has swung behind it suggesting his colleagues would support the Territory move if there were certain provisos.

Mr Entsch’s electorate of Leichhardt takes in Cairns and Cape York.

He said the tax zones needed to be redefined so regional communities most in need benefited.

“The first thing is there has to be jobs,” he said. “There is no point creating tax incentives to move if there are no jobs.

“The other thing is that FIFOs shouldn’t be allowed to benefit from it. One of the problems is that because FIFOs were spending so many days in an area they were claiming it.

“I would want to see those who are supposed to benefit from it, benefit.

“If the Chief Minister can put a strong enough case then I am sure he would get support out of Queensland MPs. Cooktown, Rockhampton, Mackay they are all facing this challenge.”

A delegation of 150 Territory business leaders will descend on Parliament House on Wednesday at a function called #FacingNorth.

#FacingNorth is an initiative of a major business advisory group formed to promote investment in the Territory.

Group chairman Ian Kew said the event was about showcasing what the NT is about.

“We want to make sure our profile with Canberra politicians is high,” he said. “Half of them haven’t been to the NT and we want to show them the opportunities that exist in the NT.”

Mr Kew said business was taking the opportunity to have one-on-one meetings with Parliamentarians.

The Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten will attend along with the Outback Wrangler Matt Wright. Arnhem Land singer Yirrmal Marika will perform.

The bipartisan Parliament House event has been co-sponsored by NT Senator Nigel Scullion and Solomon MP Luke Gosling. All federal politicians have been invited.

More than 300 guests will feast on Territory delicacies including crocodile and pearl meat, and barramundi washed down with a Green Ant Gin cocktail or a non-alcoholic Kakadu plum and Dragonfruit Spritzer.

Six Indigenous trainees under the guidance of Karen Sheldon will prepare and serve the food in Parliament House kitchens.

The estimated $80,000 cost of the two-hour event has been split between the NT Government and the business group.

National AgDay a celebration for all Aussies

by 27 September 2017

7th September 2017 The Land

FARMERS make a massive contribution to Australia’s society and economy and it is time to celebrate the sector’s vital significance to the country.

That is the motivation behind a new national initiative, National Agriculture and Related Industry Day.

The event is the brainchild of Kidman and Co. co-owner Gina Rinehart. Now the National Farmers Federation will take the lead in running AgDay, supported by the Department of Agriculture and Water Resources and a host of farm industry groups.

Agriculture generates $60 billion of on-farm production, feeds 61 million people globally, is our second largest export industry and drives local economies across the country, employing more than 1.5 million workers.

“This is a day for people who grow food, eat food and move food,” said Liverpool Plains farmer and NFF president Fiona Simson.

AgDay organisers want to light a fire in backyard barbecues and get prime produce sizzling in the city and country.

“Why not host a lunch with all Aussie-produce making up the menu, fire up a community barbecue and raise money for a good cause or simply share a pic of fabulous food or fibre on your social media networks,” Ms Simson said.

“All Australians can feel a sense of pride in our nation’s contribution to feeding and clothing the world,” said Deputy Prime Minister Barnaby Joyce said.

AgDay will be held on November 21. A website has a bunch of handy tips on getting involved, and a social media campaign sports the hashtag #AgDay.

Visit www.agday.org.au

Article – ‘We will have to take these people on’ – Joyce on environmental groups with tax-deductible gift recipient status

by 27 September 2017

6 September 2017 The Guardian 

I also need to track back to a speech the deputy Prime Minister Barnaby Joyce made early this morning at the Minerals Council of Australia knees-up.

Barnaby Joyce at the Minerals Council of Australia’s minerals week seminar in the theatre of Parliament House on Wednesday morning. Photograph: Mike Bowers for the Guardian

The speech is a typical Joyce outing – it winds and twists and digresses – but there are some interesting chunks.

There were fighting words against environmental groups with tax-deductibility status campaigning against projects like Adani. As you read on it’s good to bear in mind the mining industry also wants to curb their behaviour.

Barnaby Joyce:

We will just have to take people head on. Those people collecting the tax deductibility to fight us, take them head on, and start selling back to the Australian people the economic message “this is how you are actually going to survive, this is how you are going to win as a nation”.

If you like hospitals that are payed for out of the public purse, if you like schools that are paid for out of the public purse, if you like to be defended as a nation paid for out of the public purse, if you like the roads and the freeways and the tunnels paid for out of the public purse, if you like to go to the Opera House and see all of the cultural events, a lot of them subsidised by the public purse then you’ve got to have an economy that creates a public purse.

You’ve got to have somebody somewhere making a buck. Simple as that.

Now speaking of people who make a buck …

Barnaby Joyce:

Who is our biggest individual taxpayer in Australia? Gina Rinehart. Oh that ‘terrible, terrible’ woman, Gina Rinehart, oh shocking. All that tax she’s paying, someone should stop her.

They could, all she has to do is move to Singapore, and it stops then. And then Singapore gets the money. And what about the tax that BHP, that Rio’s paid? These ‘terrible’ people paying all this tax, supporting all the infrastructure in our nation.

Sometimes they try and inspire a guilt complex for something but overwhelmingly the sustenance of our nation is determined by our primary exports, by our mineral exports. We’ve got to push back, we’ve got to sell that message.

Now speaking of pushing back, the Adani project … and the mining industry versus environmentalists, who I think become crocodiles by the end.

Barnaby Joyce:

Galilee Basin, we’re in the fight of our lives trying to open up a mechanism to provide wealth for this nation, this is total insanity. What is the next precinct? And when you say to these people, ‘OK if you don’t want that wealth what is your alternative?

‘What do you wish to put on the table? Where does this fantasia come from? Where is the wealth? If you don’t like coal, you don’t like iron ore or you don’t like the live cattle trade or you think that the sheep industry is “evil”.’ And I’ve seen this before because at the start we were involved with it a little bit with the timber industry.

I watched them close it down, I watched them close it down. So don’t think they can’t, they can. And they’ll pick you off one by one. The biggest mistake you make is you think you’re the fastest runner in the crocodile pen, you’re not, the crocodile will get you, and it’s just which one?

NATIONAL AGRICULTURAL AND RELATED INDUSTRIES DAY

by 7 September 2017

4 September 2017
Hancock Prospecting Group

A group of Australia’s foremost agricultural organisations is pleased to announce that Australia will celebrate pastoralists and farmers across the country in a national day.

“With the support of Prime Minister Malcolm Turnbull and Deputy Prime Minister Barnaby Joyce and their government, I’m today very pleased to announce a day of celebration of all things agriculture will be held on November 21st,” Hancock Prospecting Executive Chairman Gina Rinehart said.

The inaugural National Agriculture and Related Industries Day will be on November 21, 2017, held annually on that date onwards.

The Pastoralists and Graziers Association of WA (PGAWA), Northern Territory Cattleman’s Association (NTCA), National Farmers Federation and Seafood Industry Australia have joined with Hancock Prospecting to help coordinate the inaugural day. The Federal Department of Agriculture is also assisting.

“It is time that we paused to consider and appreciate those hard working Australians on the land and in our oceans who ensure that we have enough to eat and drink everyday” said SIA’s Chair Veronica Papacosta.

“People in the outback spend their days dealing with the often very high temperatures, isolation, floods, fires, poisonous snakes, droughts and the wet and increasingly they are finding it even harder to deal with the snowballing government red tape” said NTCA’s Tracey Hayes.

“More access to clean water for cattle and crops is also a critical aspect of agriculture that we should action sooner rather than later. Greater access to clean water means cattle can be healthier and put on weight faster and more crops could be grown” stressed PGAWA President Tony Seabrook.

“For example in West Australia, allowing access to the huge Fitzroy River would help us achieve this and greatly benefit our industry. Every year 99.9991% of the Fitzroy river water is wasted as it flows uselessly out to the ocean, indeed staggering amounts as this water is enough to fill the huge Sydney harbour 14 times over”, added Mr Seabrook.

“Agriculture and their related industries is the most important employment sector in regional Australia and is the backbone of our rural communities,” Mrs Rinehart said.

Adding, “a national day of celebration is also a chance to further inform Australians about the importance of the agricultural industry, including its importance to then support related industries, help living standards plus the needs of the industry to enable it to be internationally cost competitive.

The day will culminate with a dinner at the Australian War Memorial in Canberra and industry award donated by Hancock Prospecting. For tickets to the dinner book via Trybooking link www.trybooking.com/RWOR

Mrs Rinehart added, “Our agriculture industry needs good spokespeople and leaders to stand up for our important industry, so those in the industry can strive for success and raise living standards. I’m looking forward to announcing the inaugural winners of the award that our company is initiating on 21 November”.

For more information about National Agriculture and Related Industries Day, please see www.agday.org.au

Media Contact: Hancock Prospecting Adam Giles 0421588118

 

 

Video – Gina Rinehart’s National Agriculture and Related Industries Day Message

by 7 September 2017

3 September 2017
Hancock Prospecting Group

National Agriculture and Related Industries Day will take place annually on November 21 and aims to recognise one of Australia’s most important industries.

Article – Celebrate Aussie agriculture

by 7 September 2017

6 September 2017
Moree Champion

From Broome to Bordertown, Bundaberg to Brunswick, all Australians are encouraged to celebrate the nation’s farm sector on November 21.

National Agriculture and Related Industries Day (AgDay) is the idea of Mrs Gina Rinehart and is being supported in its development by the National Farmers’ Federation (NFF) and the Federal Department of Agriculture and Water Resources (DAWR).

“All Australians can feel a sense of pride in our nation’s contribution to feeding and clothing the world,” Deputy Prime Minister and Minister for Agriculture and Water Resources, Barnaby Joyce said.

“Australian produce is renowned and enjoyed the world over – from our chickpeas in India, our lamb in Saudi Arabia, Aussie beef in fine Japanese restaurants and Australian wine across the globe.

“The enviable properties of Australian wool and cotton see it featured on runways in Paris and Milan as well as on the backs of everyday global citizens.”

Liverpool Plains farmer, Fiona Simson said Australians, young and not so young, city or bush-based, could celebrate our country’s agriculture industries on Tuesday November 21.

“On AgDay there are many ways you can rejoice in our primary production prowess. Why not host a lunch with all-Aussie produce making up the menu, fire up a community barbecue and raise money for a good cause or simply share a pic of fabulous food or fibre on your social media networks.”

Visit agday.org.au for more great ideas on how to host your own AgDay celebrations.

Gina Rinehart, Executive Chairman of the Hancock Prospecting Group and Executive Chairman of Kidman & Co, said National AgDay was about recognising the contribution agriculture makes to our economic and social fabric.

“In 2016-2017 agricultural production was valued at $60 billion – that’s on-farm alone. Agriculture is Australia’s second largest export industry. The farm sector is also the powerhouse behind our regional communities.

“No matter what town it is in Australia, agriculture provides employment opportunities and supports small businesses that keep our country towns ticking.”

However you choose to mark AgDay, join the national conversation by sharing your celebrations on Facebook, Twitter or Instagram with the hashtag #AgDay

To find out more about AgDay visit agday.org.au.

Video – Gina Rinehart’s speech to the Myer Family’s Yulgilbar Field Day

by 5 September 2017

4 August 2017

Good afternoon Bails Myer, distinguished guests and friends,

I am delighted to be speaking at your special event at your historic and beautiful property.

I’m sorry I can’t be with you Bails and your friends personally but send my greetings from New York.

Yulgilbar is indeed historic. It was Sam Hordern, previous owner of Yulgilbar, who helped to first introduce the great Santa Gertrudis breed to Australia, bringing them from America. I also hear that Yulgilbar’s Santa Gertrudis stud is the third oldest in Australia and the largest in New South Wales. Congratulations to Sarah, Bails and the Myer family and best wishes to the Yulgilbar team.

From shares in properties to then one then two properties, spreading from the Pilbara and dating back to the second half of the 1800′s, our family too has a continuous history in the cattle business. I loved my early life growing up on our then two stations in the then remote still rugged and hot Pilbara, goodness have we seen changes since I used to scramble up windmills with tools for my father!

To read the complete speech, click Gina Rinehart’s Speech to the Myer Family’s Yulgilbar Field Day.

Courtesy of Mrs. Gina Rinehart