Roy Hill and Atlas One merge to form Hancock Iron Ore
Published by Jess Watts,
Editorial Assistant
Global Mining Review,
Roy Hill is one of Australia’s leading iron ore miners and ships around 64 million t of iron ore each year to steel making markets in nearby Asia.
Atlas iron was acquired by Hancock Prospecting in 2018 when it was in financial difficulty and its future was uncertain. Under Hancock management, Atlas has since accelerated its growth and profitability and now mines and exports around 10 million t of iron ore a year.
Combined, Roy Hill and Atlas have delivered more than AUS$11.5 billion in royalties and taxes to governments and injected billions more into West Australia, supporting many small, medium, and larger businesses through contracts for goods and services.
The name change, which takes place from 1 July 2025, will not affect customer, vendor, or partner contractual obligations, with both Roy and Atlas remaining under the same trading entities.
Executive Chairman Hancock Prospecting, Dr. Gina Rinehart AO, said:
“Finding partners to invest alongside Hancock prospecting in our mega project – Roy – 15 years ago was critical, and we would not be in the position we are in today, providing billions in tax revenue, and more billions to support local communities, without POSCP, Marubeni, and China Steel partnering and investing substantially with us.
“Regrettably, more recently, investment into Australia is declining. This will badly affect tax revenue, record national debt, opportunities, and living standards. As I often say, when mining does well, so do Australians, but I need to add, when mining doesn’t do well, nor do Australians. We hence need to be very encouraging of policies that are more welcoming to investment. Other countries are certainly doing this.
“I’d like to thank our loyal partners and staff whose hard work and commitment have helped to build Roy and Atlas to enable us to evolve into Hancock Iron Ore, the best mining company in Australia.”
Read the article online at: https://www.globalminingreview.com/finance-business/11062025/roy-hill-and-atlas-one-merge-to-form-hancock-iron-ore/
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