Hancock Booklet

Total Page:16

File Type:pdf, Size:1020Kb

Hancock Booklet The following is an extract from a forthcoming biography of Lang Hancock by Lang and Hope in their frail aircraft survived to tell the tale but Lang had made a John McRobert. This is the only biography to have been authorised by Mr commitment to go back and examine the area more closely. After their breathtaking Hancock’s family and the author has been afforded complete access to all flight through the gorges they landed briefly at Yinnietharra to refuel before records held by Hancock Prospecting Pty Ltd. The book will be released to resuming their flight to Woolleen. mark 50 years of HPPL, the parent company founded by Lang Hancock. The following day, the trip to Perth was comparatively uneventful - as uneventful as another 5 or 6 hours aloft in a small aircraft watching the unfolding landscape for The discovery flight of November 22, 1952. navigational clues can be. They had no radio for weather warnings or entertainment, so they sang, talked and watched the world go by, with a particular In Nunyerry the summer storm season was approaching and soon the access road interest in familiar landmarks, their aerial roadsigns. would be inaccessible. The flimsy little Auster was parked on the 'airstrip' Lang had cleared on the floor of the gorge - the plan was to fly south to Lang’s sister’s sheep On returning to the North West after their annual sojourn in Perth, Lang flew his station at Woolleen and then to Perth. Clouds were building on the horizon. Lloyd little Auster back time and time again to the 'deep ochre red' gorges through which Marshall described the flight in an article published in 1963. he escaped the storms. He landed on unprepared ground, in spinifex country, on mesas, in gorges, places no other vehicle had been or could get to. He took ore Over the Hamersleys he faced a barrier of massed towering cumulus - suicide for an samples for a stretch of over 50 miles and after having them assayed in Perth Auster to attempt to enter. There was no going back to Nunyerry. They were realised he had made a discovery of world significance. shaping up behind him as fast as they were shaping up in front. There was only Hobson’s, or Hancock’s choice. He had to go under them. They forced him lower A superb bush pilot in a fragile, basic flying machine had done what no major and lower on to streaming red cliffs, jagged gorges and boulder-strewn flat tops of company in the country had been able to achieve. the Hamersleys. But there was still a Commonwealth embargo on the export of iron ore and a State But he had not lived his life in the Hamersleys to end it here ... He knew he was in ban on pegging iron ore prospects. Lang couldn't reveal his find until he could the Turner River country. He knew he was somewhere over the source. It was secure legal tenure over the area. He lobbied relentlessly. The Commonwealth country rarely, if ever, entered by a white man. He knew that the water in the gorges embargo was finally partially lifted in December 1960 but it took another year for running south must be joining the Turner. So gorge-groping he went. Just over the the State pegging bans to be eased sufficiently to allow access to these giant deposits. tops of the trees he racketed down the gorges, always following the ever-increasing torrent of water. He had never been down low over this country before. He had McRobert asks - How will future generations perceive Lang Hancock?. More has always flown it with the safety of thousands of feet between him and the been written about him than perhaps any other Australian not in political Hamersleys. office. Much of this has been ill informed, especially when covering only the last few years of an eventful and productive life. A shadow has been The Auster gave everything he asked of it. He reached the Turner headwaters. cast over his enormous achievements. But Lang Hancock’s drive, energy and Judging his way through the neck of a gorge the Turner had cut (I’ve been there. It’s vision should never be forgotten. The wealth he accessed is shared in about half a dozen wing-spans) the pilot’s practised eye surrendered momentarily to various ways by every living Australian and as beneficiaries we must the practised eye of the prospector. The walls of this gorge were different. They were understand and appreciate the background to the affluent society we enjoy still red. But it was a different red. They were a sort of ... a deep ochre red.' today. These pages pay tribute to a great man who did more than his share to make it so. MEMORABLE QUOTES “At that time there was a Commonwealth Embargo on the export of iron ore because it was thought that Australia only had about 30 - 35 years life of iron ore LANG HANCOCK and there was also a state blanket on the issuing of titles, so had this become known, “So I was brought up in those days when I it would have gone straight to Government property, nothing could have been done was a child and then when you're right in the with it privately.” outback, you have to be self sufficient, you “I was able to trace with the plane that this ore body went for 70 miles and I didn't have the luxury that you've got now, so if followed it along in the plane for 70 miles and I had just assumed that seeing that you were bought up in that atmosphere and the Australia officially had no iron ore in it, that it must have been low grade and a lot father before me bought up in that atmosphere, of rubbish. So I managed to buck myself down in a patch of Spinifex, if it wasn't it gives you a sense of independence because if so thick in the little plane I could walk across, took some samples and to my surprise you don't look after yourself then nobody else is they were 2% higher than the standard blast furnace feed in the mightiest nation on going to look after you.” earth, the United States, so I knew that it was not only large, but it was high grade.” “In those days the only communication “It was the same old story, the myth about Australian iron ore was deeply from the point of view of getting supplies, the ingrained in the politicians and power brokers of the day. There was no progress wagons used to come out every four or five or and an almost stultifying inactivity pervaded.” six months, they were camel wagons. The “…. Well when we found out that the blanket was going to be lifted, we got in conditions were a bit too rough for horses, but touch with Rio Tinto and got backing from their Managing Director and then we the camels used to drag the wagons out. The sent some ground parties headed by Bill Newman.” flour was a bit weevilly, a case of jam was a luxury, there was no butter, but there was of course plenty of meat. And vegetables were grown. People were very self BILL NEWMAN reliant in what they couldn't bring from civilised areas, they made and did for themselves”. (Cousin of Lang Hancock) “… everything comes out of the earth, you either mine it or you grow it and you “It was a bit tough but it was alright. It was can't even grow anything until you first of all mine the tools of trade and the exciting - the enthusiasm that Lang showed, you phosphates and the things that are necessary for agriculture, you've got to start with couldn't help but to be taken up with that the earth”. enthusiasm and I've prospected most of my life “I was travelling down overland to Perth which was a distance of a thousand as Lang said, to be on a thing which was world miles. The roads were pretty bad, the vehicles weren't what they are today, I got 17 class I suppose is the dream of every prospector, punctures on the way down, the gearbox fell to pieces on me, and two or three to have an Eldorado.” other, the starter motor got stuck and the driest stage was 120 miles between water, and the starter motor went out so um and finally when I did get a bit closer to LANG HANCOCK civilisation, half way down, an aeroplane went over the top and there's only one, I “Well people knowing this throughout the think we had about three in Western Australia at that time and I thought well that's world, people interested in iron ore, knew that the way to do it and since then I think I've had more aircraft than I have had motor there was no iron ore in Australia and here was cars." I, a boy from the bush, no experience, no “In November of 1952, I was flying down south with my wife Hope, and we education, no letters after his name or anything, left a bit later than usual and by the time we got over the Hamersley Ranges, the trying to tell them that I'd found by far the clouds had formed and the ceiling got lower and lower. I got into the Turner River, world's largest iron ore deposits, a whole field knowing full well if I followed it through, I would come out into the Ashburton.
Recommended publications
  • 1. Gina Rinehart 2. Anthony Pratt & Family • 3. Harry Triguboff
    1. Gina Rinehart $14.02billion from Resources Chairman – Hancock Prospecting Residence: Perth Wealth last year: $20.01b Rank last year: 1 A plunging iron ore price has made a big dent in Gina Rinehart’s wealth. But so vast are her mining assets that Rinehart, chairman of Hancock Prospecting, maintains her position as Australia’s richest person in 2015. Work is continuing on her $10billion Roy Hill project in Western Australia, although it has been hit by doubts over its short-term viability given falling commodity prices and safety issues. Rinehart is pressing ahead and expects the first shipment late in 2015. Most of her wealth comes from huge royalty cheques from Rio Tinto, which mines vast swaths of tenements pegged by Rinehart’s late father, Lang Hancock, in the 1950s and 1960s. Rinehart's wealth has been subject to a long running family dispute with a court ruling in May that eldest daughter Bianca should become head of the $5b family trust. 2. Anthony Pratt & Family $10.76billion from manufacturing and investment Executive Chairman – Visy Residence: Melbourne Wealth last year: $7.6billion Rank last year: 2 Anthony Pratt’s bet on a recovering United States economy is paying off. The value of his US-based Pratt Industries has surged this year thanks to an improving manufacturing sector and a lower Australian dollar. Pratt is also executive chairman of box maker and recycling business Visy, based in Melbourne. Visy is Australia’s largest private company by revenue and the biggest Australian-owned employer in the US. Pratt inherited the Visy leadership from his late father Richard in 2009, though the firm’s ownership is shared with sisters Heloise Waislitz and Fiona Geminder.
    [Show full text]
  • 1. Format 1 Lenore Layman Wittenoom
    Journal of Australasian Mining History, Vol. 18, October 2020 Establishing Wittenoom’s asbestos industry: the role of government By LENORE LAYMAN Key Words: Wittenoom, blue asbestos, CSR, northern development, government assistance, Foxall. The establishment of industries in the North-West has long been a knotty problem for both State and Commonwealth Governments. They will not find an industry more ready to hand than this one. J.S. Foxall, WA State Mining Engineer, 1942. he development of Colonial Sugar Refining Company’s crocidolite (blue asbestos) industry at Wittenoom Gorge in the Hamersley Range was heavily T influenced by state and federal governments acting in tandem. It is probable that had these governments not promoted and assisted the venture so strongly, mining might have remained small-scale, undercapitalised and intermittent like other isolated mining ventures in the region at the time. In suggesting this probability, I do not intend any mitigation of the company's responsibility (now re-affirmed by litigation) for the operation of the Wittenoom venture and its disastrous health outcomes; responsibility lay with the ownership and management. Nevertheless, governments’ role, driven by a commitment to northern development, was crucial to Wittenoom's establishment and needs recognition. Studies of Wittenoom’s history since the 1980s have, not surprisingly, concentrated on the failures of the company, the unsatisfactory working conditions and appalling health outcomes, the legal struggles for compensation, and personal stories of suffering and death.1 Examination of governments’ role in the story has been confined to identification of the regulatory failures of the mines inspection regime.2 This article therefore adds a new dimension to Wittenoom’s story.
    [Show full text]
  • Senate Official Hansard No
    COMMONWEALTH OF AUSTRALIA PARLIAMENTARY DEBATES Senate Official Hansard No. 5, 2010 Thursday, 13 May 2010 FORTY-SECOND PARLIAMENT FIRST SESSION—EIGHTH PERIOD BY AUTHORITY OF THE SENATE INTERNET The Journals for the Senate are available at http://www.aph.gov.au/senate/work/journals/index.htm Proof and Official Hansards for the House of Representatives, the Senate and committee hearings are available at http://www.aph.gov.au/hansard For searching purposes use http://parlinfo.aph.gov.au SITTING DAYS—2010 Month Date February 2, 3, 4, 22, 23, 24, 25 March 9, 10, 11, 15, 16, 17, 18 May 11, 12, 13 June 15, 16, 17, 21, 22, 23, 24 August 24, 25, 26, 30, 31 September 1, 2, 20, 21, 22, 23, 28, 29, 30 October 25, 26, 27, 28 November 15, 16, 17, 18, 22, 23, 24, 25 RADIO BROADCASTS Broadcasts of proceedings of the Parliament can be heard on ABC NewsRadio in the capital cities on: ADELAIDE 972AM BRISBANE 936AM CANBERRA 103.9FM DARWIN 102.5FM HOBART 747AM MELBOURNE 1026AM PERTH 585AM SYDNEY 630AM For information regarding frequencies in other locations please visit http://www.abc.net.au/newsradio/listen/frequencies.htm FORTY-SECOND PARLIAMENT FIRST SESSION—EIGHTH PERIOD Governor-General Her Excellency Ms Quentin Bryce, Companion of the Order of Australia Senate Officeholders President—Senator Hon. John Joseph Hogg Deputy President and Chair of Committees—Senator Hon. Alan Baird Ferguson Temporary Chairs of Committees—Senators Guy Barnett, Thomas Mark Bishop, Suzanne Kay Boyce, Carol Louise Brown, Michaelia Clare Cash, Patricia Margaret Crossin, Michael George Forshaw, Annette Kay Hurley, Stephen Patrick Hutchins, Gavin Mark Marshall, Julian John James McGauran, Claire Mary Moore, Senator Scott Michael Ryan, Hon.
    [Show full text]
  • The House of Hancock: the Rise and Rise of Gina Rinehart Free
    FREE THE HOUSE OF HANCOCK: THE RISE AND RISE OF GINA RINEHART PDF Debi Marshall | 384 pages | 01 May 2012 | Random House Australia | 9781742756745 | English | North Sydney, Australia The House of Hancock: The Rise and Rise of Gina Rinehart : Debi Marshall : Goodreads helps you keep track of books you want to read. Want to Read saving…. Want to Read Currently Reading Read. Other editions. Enlarge cover. Error rating book. Refresh and try again. Open Preview See a Problem? Details if other :. Thanks for telling us about the problem. Return to Book Page. From an early age Gina Rinehart knew she was heir to one of Australia's largest fortunes. Her father, Lang Hancock, loved her dearly and groomed her to take over the company. Then along came Rose, the Filipina housekeeper Lang married inand the obsessively private House of Hancock was changed forever. Hancock's death in opened floodgates of litigation, with Ros From an early age Gina Rinehart knew she was heir to one of Australia's largest fortunes. Hancock's death in opened floodgates of litigation, with Rose and Gina fixtures in the courts fighting it out for their share of Lang's mining assets. The Pilbara Princess has now become the Queen of Litigation, taking on her children and anyone else who dares to challenge her through countless court battles. Hancock's extraordinary iron ore discovery and his subsequent royalty agreement with Rio Tinto ensured the wealth of the family for generations to come. But when Gina Rinehart inherited the company in it was mired in debt.
    [Show full text]
  • Gina Rinehart, Australia's Richest, Adds to Her Fortune with a Strong Pro T from Iron Ore Mining
    11/2/2018 Gina Rinehart, Australia's Richest, Adds To Her Fortune With A Strong Profit From Iron Ore Mining 1,544 views | Oct 31, 2018, 09:28pm Gina Rinehart, Australia's Richest, Adds To Her Fortune With A Strong Prot From Iron Ore Mining Tim Treadgold Contributor The fortune of Australia's richest person, Gina Rinehart, continues to grow with her primary business reporting a 28% increase in net profit to $961 million in the year to June 30. Hancock Prospecting, which is named after her late father, Lang Hancock, generated most of its profit from the sale of iron ore mined in several project in Western Australia. The company also has extensive farming interests and has started to expand into the international mining industry. https://www.forbes.com/sites/timtreadgold/2018/10/31/gina-rinehart-australias-richest-adds-to-her-fortune-with-a-strong-profit-from-iron-ore-minin… 1/4 11/2/2018 Gina Rinehart, Australia's Richest, Adds To Her Fortune With A Strong Profit From Iron Ore Mining Gina Rinehart, chairman of Hancock Prospecting Pty, during a tour of the company's Roy Hill Mine in the Pilbara region, Western Australia. Photographer Philip Gostelow/Bloomberg. Mrs Rinehart, who is estimated by Forbes to be worth $16.8 billion and is 69th on the global billionaires list, said in a report filed on Hancock Prospecting's website https://www.forbes.com/sites/timtreadgold/2018/10/31/gina-rinehart-australias-richest-adds-to-her-fortune-with-a-strong-profit-from-iron-ore-minin… 2/4 11/2/2018 Gina Rinehart, Australia's Richest, Adds To Her Fortune With A Strong Profit From Iron Ore Mining that revenue in the latest 12-month period was up 36% to $4.23 billion with a strong contribution from the majority owned Roy Hill mine which is producing 55 million tons of high-grade iron ore a year.
    [Show full text]
  • Mother Knows Best – Gina's Bitter Email
    Mother knows best – Gina’s bitter email PUBLISHED: 10 MAR 2012 00:01:07 | UPDATED: 10 MAR 2012 12:31:44 ANGUS GRIGG, HANNAH LOW AND PETERԜKERR It was just before 11pm in Perth when Gina Rinehart emailed her four adult children. It was September 5 last year and Australia’s richest person had just been outmanoeuvred legally and was returning fire. Her message left nothing open toԜinterpretation. “Sign up or be bankrupt tomorrow,” Rinehart wrote in an email read to the NSW Supreme Court. “The clock is ticking. There isԜone hour to bankruptcy and financial ruin.” The email forms part of a family feud of Shakespearean proportions that has been playing out in a succession of Sydney courts over the past six months. Because of a suppression order few details have been revealed. But that order was lifted on Friday and so the back story to this fight for control of a family trust – thought to be worth $3 billion – can now beԜtold. It begins with John Hancock and his sisters, Bianca and Hope Rinehart, fearing for their inheritance. Each had fallen out with their domineering mother and feared that younger sister Ginia might benefit most from the familyԜtrust. And so without informing their mother, the three elder children began proceedings in the NSW Supreme Court. The family’s latest high-profile legal battle began on Monday, September 5. The duty judge granted the children’s wish and blocked Rinehart from dispersing any funds from the trust for one month. The coal and iron ore magnate had been blindsided, but only momentarily.
    [Show full text]
  • Electronic Document
    GriffithREVIEW47.indb 1 21/01/2015 3:43 pm Praise for Griffith Review ‘Essential reading for each and every one of us.’ Readings ‘A varied, impressive and international cast of authors.’ The Australian ‘Griffith Review is a must-read for anyone with even a passing interest in current affairs, politics, literature and journalism. The timely, engaging writing lavishly justifies the Brisbane-based publication’s reputation as Australia’s best example of its genre.’ The West Australian ‘There is a consistently high standard of writing: all of it well crafted or well argued or well informed, as befits the various genres.’ Sydney Review of Books ‘This quarterly magazine is a reminder of the breadth and talent of Australian writers. Verdict: literary treat.’ Herald Sun ‘Griffith Review editor Julianne Schultz is the ultra-marathoner of Australian cultural life.’ Canberra Times ‘At a time when long form journalism is under threat and the voices in our public debate are often off-puttingly condescending, hectoring and discordant, Griffith Review is the elegant alternative.’ Booktopia Buzz ‘Griffith Review is a consistently good journal. There is some terrific writing on display as well as variety and depth to the issues being grappled with.’ The Age ‘Australia’s most important literary essay magazine.’ Courier-Mail ‘At once comfortable and thought-provoking, edgy and familiar, [it] will draw the reader through its pages.’ Australian Book Review ‘Griffith Review is a wonderful journal. It’s pretty much setting the agenda in Australia and fighting way above its weight… You’re mad if you don’t subscribe.’ Phillip Adams ‘Once again, Griffith Review has produced a stunning volume of excellent work.
    [Show full text]
  • Iron Country: Unlocking the Pilbara
    Iron country: Unlocking the Pilbara DAVID LEE A PUBLIC POLICY ANALYSIS PRODUCED FOR 09 THE MINERALS COUNCIL OF AUSTRALIA JUNE 2015 Iron country: Unlocking the Pilbara DAVID LEE MINERALS COUNCIL OF AUSTRALIA June 2015 Dr David Lee is the Director of the Historical Publications and Research Unit, Department of Foreign Affairs and Trade. He is the author of Australia and the World in the Twentieth Century, Melbourne, 2005 and Stanley Melbourne Bruce: Australian Internationalist, London and New York, 2010. He is currently researching Australia’s post-1960 mining booms and a collaborative biography of Sir John Crawford. The Minerals Council of Australia represents Australia’s exploration, mining and minerals processing industry, nationally and internationally, in its contribution to sustainable economic and social development. This publication is part of the overall program of the MCA, as endorsed by its Board of Directors, but does not necessarily reflect the views of individual members of the Board. ISBN 978-0-9925333-4-2 MINERALS COUNCIL OF AUSTRALIA Level 3, 44 Sydney Ave, Forrest ACT 2603 (PO Box 4497, Kingston ACT Australia 2604) P. + 61 2 6233 0600 | F. + 61 2 6233 0699 W. www.minerals.org.au | E. [email protected] Copyright © 2015 Minerals Council of Australia. All rights reserved. Apart from any use permitted under the Copyright Act 1968 and subsequent amendments, no part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the publisher and copyright holders.
    [Show full text]
  • Australian Mining
    Australian Mining A great mining nation adapts to new challenges and fresh opportunities by applying unmatched operational expertise and incorporating home grown innovation. A REPORT BY GBR FOR E&MJ A Supplement to E&MJ This report was researched and prepared by Global Business Reports (www.gbreports.com) for Engineering & Mining Journal. Editorial researched and written by Ramona Tarta, Thomas Willatt, Joseph Hincks, Camille Veillon and Patricia Matey. For further information, contact [email protected] Cover photo courtesy of Newmont - Underground heavy machinery workshop - Tanami SEPTEMBER 2011 AUSTRALIAN MINING A Vast Nation of Abundant Opportunities A brief introduction to Australia’s mining industry Conveyors at Newmont Boddington Gold Mine (photo courtesy of Newmont) Australia, the sixth largest country in the largest export sector. According to Michael of technology. Anne Nolan, former director world, stands out for vastness and the abun- Roarty , a member of Australia’s parliament, general of the Western Australia Department dance of its natural resources. Its territory in 2008-09, the resources sector accounted of State Development, underlines the region contains 28 billion mt of demonstrated iron for more than 80% of total commodity ex- is world-leading in terms of mining software ore resources. Australia is the world’s larg- ports, contributing A$160 million to export and design and sees this as a key route to est coal exporter, the world’s second largest earnings. From global industry-leading play- ensure wider economic benefit from com- producer of gold and nickel and the third ers like BHP Billiton and Rio Tinto to mid- modity exports.
    [Show full text]
  • Federal Court of Australia
    5KIPGFD[#WUV.++ FEDERAL COURT OF AUSTRALIA Hancock Prospecting Pty Ltd v Rinehart [2017] FCAFC 170 Appeal from: Rinehart v Rinehart (No 3) [2016] FCA 539 File numbers: NSD 916 of 2016 NSD 922 of 2016 Judges: ALLSOP CJ, BESANKO AND O’CALLAGHAN JJ Date of judgment: 27 October 2017 Catchwords: ARBITRATION – appeal from interlocutory decision on an application under s 8(1) of the Commercial Arbitration Act 2010 (NSW) seeking an order that the parties to the proceeding be referred to arbitration in respect of the subject matter of various deeds – whether the primary judge erred in ordering a proviso trial under s 8(1) ARBITRATION – whether the arbitration contemplated by the arbitration agreements is commercial for the purposes of the Commercial Arbitration Act 2010 (NSW) – meaning of the phrase “commercial arbitration” – whether parties need to demonstrate the existence of a pre-existing commercial relationship between the parties to the dispute – whether a family or domestic dispute and the arbitration to resolve it can also be characterised as a commercial dispute ARBITRATION – proper approach to determination of an application under s 8(1) of the Commercial Arbitration Act 2010 (NSW) – proper approach to construction of an arbitration agreement – whether the disputes in question are the subject of an arbitration agreement – where arbitration agreements refer to “any dispute under this deed” – whether that phrase should be read as limited to those disputes governed or controlled by the deed – breadth of the potential meaning of entire phrase
    [Show full text]
  • Survey Analysis for Indigenous Policy in Australia: Social Science Perspectives, Boyd Hunter and Nicolas Biddle (Eds), 2012
    My Country, Mine Country Indigenous people, mining and development contestation in remote Australia My Country, Mine Country Indigenous people, mining and development contestation in remote Australia Benedict Scambary Centre for Aboriginal Economic Policy Research College of Arts and Social Sciences The Australian National University, Canberra Research Monograph No. 33 2013 Published by ANU E Press The Australian National University Canberra ACT 0200, Australia Email: [email protected] This title is also available online at http://epress.anu.edu.au National Library of Australia Cataloguing-in-Publication entry Author: Scambary, Benedict. Title: My country, mine country : Indigenous people, mining and development contestation in remote Australia / Benedict Scambary. ISBN: 9781922144720 (pbk.) 9781922144737 (ebook) Series: Research monograph (Australian National University. Centre for Aboriginal Economic Policy Research); no. 33 Notes: Includes bibliographical references and index. Subjects: Aboriginal Australians--Mines and mining--Australia. Aboriginal Australians--Social conditions Aboriginal Australians--Land tenure--Economic aspects. Dewey Number: 305.89915 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without the prior permission of the publisher. Cover design and layout by ANU E Press Printed by Griffin Press This edition © 2013 ANU E Press Contents Preface . vii List of tables . ix List of figures . xi Abbreviations and acronyms . xiii 1. Indigenous policy, the mining industry, and Indigenous livelihoods: An introduction . 1 2. ‘Government been mustering me…’: Historical background . 31 3. ‘They still mustering me’: The three agreements . 67 4. The Ranger uranium mine: When opportunity becomes a cost .
    [Show full text]
  • Adele Ferguson Gina Rinehart: the Untold Story of the Richest Woman in the World, Sydney: Pan Macmillan, 2012, Pp
    130 JOURNAL OF AUSTRALIAN POLITICAL ECONOMY No 72 No.71), it deserves a wide readership both among political economists and a broader array of concerned citizens. Adele Ferguson Gina Rinehart: the Untold Story of the Richest Woman in the World, Sydney: Pan Macmillan, 2012, pp. 490, rrp. $34.99. Reviewed by Kosmas Tsokhas By any count, with investment peaking at more than $100 billion in 2011, the mining industry has been important for capital accumulation in Australia. Over the years, no two personalities from the industry have stood out as much as Lang Hancock and his daughter Gina Rinehart. Unlike Gina, who was more astute and effective than her father, Lang gambled and rode his luck in his failure to develop his own iron ore mine; his miscalculated scheme to borrow millions from banks and lend the same funds to other banks; his inadequately priced and costed arrangements to trade iron ore with the Romanian government; and his fruitless efforts to break the bargaining power of the Japanese steel cartel. On his death in 1992, Lang’s estate was more or less bankrupt and his business interests were in a shambles. However, under Gina’s leadership, by 2011, the Hancock Prospecting group of companies had developed the Hope Downs iron ore mine with Rio Tinto and had completed feasibility studies and partnerships on other iron ore and coal projects. With net worth of $28 billion, Gina had become the richest Australian ever and in 2012 she had become the wealthiest woman in the world. Unceasing public interest in and fascination with Gina has
    [Show full text]