Hancock Prospecting
Hancock Prospecting Pty Ltd is a leading Australian owned mining and agricultural business run by Executive Chairman Gina Rinehart and CEO Garry Korte. At stages of its trading, the company has been known as Hancock Prospecting Ltd, Hancock Resources Ltd, Hanwright Pty Ltd, Hancock & Wright Ltd, and Hancock Prospecting Pty Ltd.
| Company type | Private |
|---|---|
| Industry | Mining and Agriculture |
| Predecessor | Hancock Prospecting Limited Hancock Resources Hanwright Pty Limited Hancock & Wright Limited |
| Founded | 25 November 1955 |
| Founder | Lang Hancock |
| Headquarters | Perth, Western Australia , |
Number of locations | Multiple projects in Australia and in the UK |
Key people | Gina Rinehart (Executive Chairman) |
| Products | Iron ore and thermal coal; and Joint venture activities in ferruginous manganese, uranium, molybdenum, lead, zinc, gold, diamonds, and petroleum |
| Revenue | $16.6 billion (2021) |
Net income | $7.3 billion (2021) |
| Owner | Gina Rinehart Hope Margaret Hancock Trust |
| Subsidiaries | Hancock Coal Pty Limited Hancock Alpha West Pty Limited |
| Website | www |
Hancock Prospecting Pty Ltd is owned by Rinehart (76.6%) and the Hope Margaret Hancock Trust (23.4%).
The company was founded in 1955 by Rinehart's father, the late Lang Hancock. Hancock Prospecting holds the mineral rights to some of the largest Crown land leases in the Pilbara region of Western Australia.
Upon assuming the Executive Chairmanship, Rinehart took over a company that was in a perilous financial position with significant debt and major assets mortgages and under threat of seizure.