Category: News

The devastating Russian invasion of Ukraine has captured global ­attention. While the world’s focus is rightly on the human toll and suffering, the crisis has highlighted the need to end reliance on Russian oil and gas. To achieve that ambition, we must be pragmatic and invest in sensible alternatives, not engage in wishful thinking about renewable energy.

The most successful woman in Australia from a business sense has spoken about the importance of International Women’s Day and revealed key issues she plans to discuss with federal leaders of both major parties ahead of this year’s election. Interview by Liam Bartlett.

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Australian resources export revenue reached a new record high of $351 billion in 2021, according to the latest data from the Australian Bureau of Statistics. Iron ore was the highest contributing resource with $154.2 billion, up 32 per cent from 2020 to set its own record high. Minerals Council of Australia chief executive officer Tania Constable said the record growth demonstrates the importance of the mining industry to Australia’s economy.

“This incredible growth in revenue has also delivered Australia its largest ever trade surplus ($123 billion) during the COVID-19 pandemic, at a time when it needed economic stimulus the most,” Constable said. “Ongoing demand for resources is driving the 258,000 direct mining jobs, with significant benefits flowing to all of Australia and particularly regional communities.

Hancock is one of the biggest taxpayers in Australia and has weathered the Covid pandemic. Its company profit for the year to June came after revenue for Mrs Rinehart’s Hancock rose to a record $16.6bn from $10.5bn a year earlier and the business paid a huge $2.7bn in federal corporate and state taxes. Last year was also a significant one away from mining for Mrs Rinehart, who watched strong performances by athletes in the four sports she backs at the Tokyo Olympic Games. Swimmers, rowers, beach volleyball players and artistic swimming representatives all receive direct support from Mrs Rinehart, as part of charitable and sponsorship pursuits the billionaire undertakes that also includes helping Cambodian girls out of poverty. All of the support has been recognised in this year’s Australia Day honours, with Mrs Rinehart gaining the title of Officer of the Order of Australia for distinguished service to the mining sector, to the community through philanthropic initiatives, and to sport as a patron.

The mining magnate is one of just 25 people in the country to be appointed an Officer of the Order of Australia in the general division. According to her citation, she has been recognised for “distinguished service to the mining sector, to the community through philanthropic initiatives and to sport as a patron”.