Gina Rinehart is a leading figure in the mining and agricultural industries in Australia.
She spent her childhood between the Pilbara, in north-west Australia, where she lived with her parents on large sheep and cattle properties in the remote and rugged iron ore region, later attending boarding school at St. Hilda’s Anglican School for Girls in Perth.
Since becoming Executive Chairman of the Hancock Prospecting Group in 1992, Mrs. Rinehart has transformed the Group from one that was in difficulties and financially troubled to a successful industry-leading innovator.Under Mrs. Rinehart’s leadership, the Hancock Group has diversified from prospecting to include investments in iron ore, coal, beef, dairy and property.
Mrs Rinehart’s achievements include the development of the mega Roy Hill project, the exploration and then development of three, soon to be four, major iron ore mines at Hope Downs with joint-venture partner Rio Tinto, and the considerable expansion of Hancock’s agricultural business, now the second largest producer of cattle in Australia.
At Hope Downs, Mrs Rinehart took the company’s tenements from a status of temporary titles – with the area having little more than a few drill holes – to then with partner Rio Tinto, construction of three major mines. A fourth mine is under development and will be opened in October 2018. This involved an enormous approval process and extensive high-risk expenditure both for exploration and studies, then raising money to develop these mammoth mines and related facilities.
Mrs Rinehart’s flagship achievement is the exploration, financing, construction and operation of the $US10 billion Roy Hill project – the debt raised was the largest ever for a mainly greenfield land-based mining and infrastructure project anywhere in the world. This debt-funding package was secured from 19 of the largest banks in the world and five Export Credit Agencies.