Latest news with #HancockProspecting
Yahoo
3 days ago
- Business
- Yahoo
Rio Tinto And Hancock To Invest In Hope Downs 2 Project In Pilbara
Rio Tinto Group (NYSE:RIO) is among the 11 Best Copper Stocks to Buy Now. The firm and Hancock Prospecting will invest $1.61 billion, with Rio Tinto Group (NYSE:RIO) contributing $800 million, to develop the Hope Downs 2 iron ore project in the Pilbara area of Western Australia. Aerial view of an open pit mine, with workers extracting minerals. Two above-water-table pits with a combined yearly production capacity of 31 million tonnes will be part of the project, which has obtained all necessary State and Federal licenses. More than 950 jobs will be created during construction, and the operation will support about 1,000 full-time equivalent positions at Greater Hope Downs. It is anticipated that the first ore will be mined in 2027 and then delivered to Hope Downs 1 for processing. Rio Tinto Group (NYSE:RIO) and Hancock Prospecting have a long-standing cooperation, which was marked with the establishment of the Hope Downs Joint Venture in 2006. Hope Downs 1 started production in 2007, subsequently followed by Hope Downs 4 in 2013. Hope Downs 2 will feature additional infrastructure, rail crossings, transport roads, and a 6-kilometer realignment of the Great Northern Highway. Rio Tinto Group (NYSE:RIO)'s plan to maintain Pilbara output, which targets 345–360 Mtpa capacity, is backed by the project. The $13 billion investment plan (2025-2027) and an initial feasibility study at Rhodes Ridge show the company's sustained commitment to Pilbara iron ore. It is among the best copper stocks. While we acknowledge the potential of RIO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None.
Yahoo
3 days ago
- Business
- Yahoo
Rio Tinto And Hancock To Invest In Hope Downs 2 Project In Pilbara
Rio Tinto Group (NYSE:RIO) is among the 11 Best Copper Stocks to Buy Now. The firm and Hancock Prospecting will invest $1.61 billion, with Rio Tinto Group (NYSE:RIO) contributing $800 million, to develop the Hope Downs 2 iron ore project in the Pilbara area of Western Australia. Aerial view of an open pit mine, with workers extracting minerals. Two above-water-table pits with a combined yearly production capacity of 31 million tonnes will be part of the project, which has obtained all necessary State and Federal licenses. More than 950 jobs will be created during construction, and the operation will support about 1,000 full-time equivalent positions at Greater Hope Downs. It is anticipated that the first ore will be mined in 2027 and then delivered to Hope Downs 1 for processing. Rio Tinto Group (NYSE:RIO) and Hancock Prospecting have a long-standing cooperation, which was marked with the establishment of the Hope Downs Joint Venture in 2006. Hope Downs 1 started production in 2007, subsequently followed by Hope Downs 4 in 2013. Hope Downs 2 will feature additional infrastructure, rail crossings, transport roads, and a 6-kilometer realignment of the Great Northern Highway. Rio Tinto Group (NYSE:RIO)'s plan to maintain Pilbara output, which targets 345–360 Mtpa capacity, is backed by the project. The $13 billion investment plan (2025-2027) and an initial feasibility study at Rhodes Ridge show the company's sustained commitment to Pilbara iron ore. It is among the best copper stocks. While we acknowledge the potential of RIO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None.
Yahoo
3 days ago
- Business
- Yahoo
Rio Tinto And Hancock To Invest In Hope Downs 2 Project In Pilbara
Rio Tinto Group (NYSE:RIO) is among the 11 Best Copper Stocks to Buy Now. The firm and Hancock Prospecting will invest $1.61 billion, with Rio Tinto Group (NYSE:RIO) contributing $800 million, to develop the Hope Downs 2 iron ore project in the Pilbara area of Western Australia. Aerial view of an open pit mine, with workers extracting minerals. Two above-water-table pits with a combined yearly production capacity of 31 million tonnes will be part of the project, which has obtained all necessary State and Federal licenses. More than 950 jobs will be created during construction, and the operation will support about 1,000 full-time equivalent positions at Greater Hope Downs. It is anticipated that the first ore will be mined in 2027 and then delivered to Hope Downs 1 for processing. Rio Tinto Group (NYSE:RIO) and Hancock Prospecting have a long-standing cooperation, which was marked with the establishment of the Hope Downs Joint Venture in 2006. Hope Downs 1 started production in 2007, subsequently followed by Hope Downs 4 in 2013. Hope Downs 2 will feature additional infrastructure, rail crossings, transport roads, and a 6-kilometer realignment of the Great Northern Highway. Rio Tinto Group (NYSE:RIO)'s plan to maintain Pilbara output, which targets 345–360 Mtpa capacity, is backed by the project. The $13 billion investment plan (2025-2027) and an initial feasibility study at Rhodes Ridge show the company's sustained commitment to Pilbara iron ore. It is among the best copper stocks. While we acknowledge the potential of RIO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None.
West Australian
25-06-2025
- Business
- West Australian
Gina Rinehart labels net zero a ‘magic pudding' and says Australia should aspire to be like the United States
Gina Rinehart says net zero is an 'unobtainable and expensive magic pudding', and believes Australia should follow the lead of the US. Mrs Rinehart made the comments hours after her Hancock Prospecting and Rio Tinto committed to spending $2.5 billion to extend the life of their jointly-owned Hope Downs iron ore mine in the Pilbara. Australia's richest person said projects like Hope Downs will not be built in the future if Australia does not 'honestly confront and urgently address the reasons' for its declining levels of investment in recent years. 'It's time not to be distracted by name calling like 'far right' and other names and stick to the fact that investment is beneficial, and unfortunately declining in Australia,' she said. 'We need to stand up, ignore the truth twisters, truth hiders and truth avoiders, and to point out what's needed if we want to see such investment bring jobs and benefits to many Aussies. 'Not forgetting even if Australia reduces its approximately one per cent share of emissions, what benefit is there really in the overwhelming expense and consequences that such reduction brings.' Mrs Rinehart said chasing the 'unobtainable and expensive magic pudding that net zero is' will 'negatively impact our way of life' for generations to come. 'Why not let those who want to reduce their emissions do so, and who want net zero efforts, be the ones who pay for them,' she said. 'While Australia instead follows the lead of (the) USA and other countries who put their citizens first.' Rio and Hancock on Tuesday said they are contributing an equal share to bring the Hope Downs 2 and Bedded Hilltop iron ore deposits into production. Rio said the 'above-water-table' iron ore pits have an annual production capacity of 31 million tonnes and will sustain production from the Hope Downs joint venture 'into the future'. Ore mined at the two sites will be transported to Hope Downs 1 for processing, with first ore from the two new deposits scheduled for 2027. More than 950 jobs will be created during construction, according to Rio, and once operational the extension project 'will help sustain' a workforce of about 1000 full-time equivalent roles in the Greater Hope Downs mining area.
Daily Mail
25-06-2025
- Business
- Daily Mail
Gina Rinehart's blunt message for the Albanese government as she issues an urgent warning for Australians
Gina Rinehart has lashed out at the Albanese government's net zero emissions target, blaming it for declining investment in Australia. The billionaire mining magnate made the comments in a statement about Rio Tinto's decision to build a new iron ore mine, known as Hope Downs 2, in partnership with her company Hancock Prospecting. The new iron ore mine extends the current Hope Downs joint venture between Rio and Hancock in Western Australia. It was expected to create about 950 jobs during construction and 1000 jobs once operational in 2027. 'It's time not to be distracted by name-calling like far right and other names, and stick to the fact that investment is beneficial, and unfortunately declining in Australia,' Ms Rinehart said. 'We need to stand up, ignore the truth twisters, truth hiders and truth avoiders, and to point out what's needed if we want to see such investment bring jobs and benefits to many Aussies. '...If we want to see projects like Hope Downs 2 continue to be built, Australia needs to honestly confront and urgently address the reasons for its recent years of declining investment.' She said trillions of dollars' worth of taxpayer and shareholder money was being 'wasted' on the net zero emissions by 2050 target, 'adding expense not only to businesses, and resulting in even more record business failures, but expense for every Australian adult, and future Aussie adults, ensuring our taxes remain high'. 'Not forgetting, even if Australia reduces its approximately 1 per cent share of (global) emissions, what benefit is there really in the overwhelming expense and consequences that such reduction brings?' she asked. 'The truth hiders are not telling us manufacturing often requires 24-hour reliable electricity, such as dairy and aluminium, steel and AI. 'They ignore the consequences.' Ms Rinehart said the Labor government, whom she referred to as 'truth hiders' were misleading Aussies about the true cost of emissions targets. 'The truth avoiders are not telling us, that given the increasing introduction of renewables, businesses, even small ones, are being called up by bureaucrats demanding they stop using mains at times, so that thousands of homes in the cities don't lose power at peak times,' she said. 'The truth twisters are not telling us of the trillion plus of taxpayers' dollars net zero will cost, or the further trillion businesses will have to pay for net zero. 'We all lose when soaring energy prices damage our lives and competitiveness.' Business investment has declined in Australia over the past year amid rising costs, high levels of uncertainty and decelerating demand. Private capital expenditure was 0.5 per cent lower in the March 2025 quarter compared to the same period a year earlier, according to data from the Australian Bureau of Statistics. The Albanese government's Climate Change Bills passed the Senate in 2022, bringing into law a net zero emissions target by 2050.
