Hancock Prospecting
Australian privately owned mining and agricultural group controlled by Gina Rinehart.
Last updated August 21, 2026
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Overview
Hancock Prospecting Pty Ltd is an Australian privately owned mining and agricultural group associated with the Rinehart family. Its principal business is the development and ownership of mineral assets, especially iron ore interests in Western Australia's Pilbara region. The company also has interests in coal, manganese, rare earths and other exploration targets, and has expanded into cattle stations and agricultural assets. The business was founded in 1955 by Western Australian prospector and entrepreneur Lang Hancock, although its commercial origins reach back to the late 1930s, when Hancock and his school friend Peter Wright formed the Hanwright partnership. Hancock's discoveries and prospecting activities in the Pilbara helped establish the commercial importance of the region's iron ore deposits. During the 1960s, Hanwright reached an arrangement with Rio Tinto under which it received a 2.5 percent interest in iron ore sold from specified Pilbara discoveries. That historical royalty and related mineral rights became central to the family's long-term wealth and to later disputes with descendants of Peter Wright. The company is now run by Executive Chairwoman Gina Rinehart and Chief Executive Officer Garry Korte. Ownership is reported as approximately 76.6 percent held by Rinehart and 23.4 percent held by the Hope Margaret Hancock Trust, established by Lang Hancock in 1988. The trust was created for the benefit of four of Lang Hancock's grandchildren and became the subject of a lengthy family and trustee dispute in the New South Wales courts. Hancock Prospecting's most important operating exposure is through the Hope Downs iron ore joint venture with Rio Tinto. It also developed the Roy Hill iron ore project in the Pilbara, with Hancock Prospecting as the majority partner alongside Marubeni, POSCO and China Steel Corporation. Other mineral projects and interests have included the Nicholas Downs manganese project and the Balfour Downs manganese operation with Mineral Resources, as well as coal projects in Queensland's Galilee Basin, including Alpha Coal and Kevin's Corner. The company has additionally conducted exploration through the Jacaranda Alliance across Australia and other parts of the Asia-Pacific region. The group diversified beyond mining in 2016 by acquiring a majority interest in S. Kidman & Co, one of Australia's largest pastoral businesses. It also owns a significant stake in Arafura Rare Earths. Its exploration portfolio has covered uranium, molybdenum, lead, zinc, gold, diamonds and petroleum, although the scale and commercial status of these activities have varied over time. Hancock Prospecting is a private company and does not have a public stock-market ticker. Its public profile is closely linked to Gina Rinehart, Australia's prominent mining investor and an outspoken advocate of lower taxes, limited regulation and expanded resource development. The company and its controlling shareholder have faced controversy concerning the historical statements of Lang Hancock about Indigenous Australians, political donations and support for the Institute of Public Affairs, family litigation over the Hope Margaret Hancock Trust, and a 2023 legal action brought by Wright Prospecting. In 2022, the company withdrew a major sponsorship of Netball Australia after concerns were raised about Lang Hancock's past remarks and the sponsorship's association with Indigenous player Donnell Wallam.
History
Hancock Prospecting's history is rooted in the prospecting partnership formed in the late 1930s by Lang Hancock and Peter Wright. Known as Hanwright, the partnership pursued mineral opportunities in Western Australia and was involved in an asbestos operation at Wittenoom. Hancock's geological observations and prospecting work in the Pilbara later contributed to recognition of the region's extensive iron ore resources. The formal Hancock Prospecting business was established in 1955. The lifting of restrictions on Australian iron ore exports during the 1960s created the conditions for rapid development of the Pilbara mining industry. Hanwright entered into an arrangement with Rio Tinto under which it received a 2.5 percent interest in iron ore sold from certain discoveries associated with the partnership. Hancock Prospecting subsequently retained or developed substantial mineral rights and royalty interests in the region, while Rio Tinto became a major operating partner. The Pilbara became the company's strategic centre. Its interests included leases in the Central and Eastern Pilbara containing Brockman and Marra Mamba iron ore, as well as manganese prospects. The Hope Downs project, operated with Rio Tinto, became one of the group's most important assets. Hancock Prospecting later pursued a more independent operating role through the Roy Hill project south of Port Hedland. Roy Hill was structured with Hancock Prospecting as majority owner and Japanese, Korean and Chinese steel and trading groups as minority partners. Lang Hancock died in 1992. Gina Rinehart subsequently became the dominant figure in the business and has described taking control of a company burdened by debt, mortgages over major assets and the risk of seizure. Under her leadership, Hancock Prospecting maintained its focus on iron ore while pursuing coal, manganese, exploration and non-mining diversification. Coal developments in Queensland's Galilee Basin included the Alpha Coal and Kevin's Corner projects. The company also participated in exploration for uranium, molybdenum, base metals, gold, diamonds and petroleum through the Jacaranda Alliance and related ventures. In 1988, Lang Hancock created the Hope Margaret Hancock Trust, naming Gina Rinehart as trustee and his four grandchildren as beneficiaries. The trust owns a substantial minority interest in Hancock Prospecting. From 2011, disputes involving Rinehart's role as trustee and the timing of the trust's vesting generated litigation in the New South Wales Supreme Court and appeals to higher courts. Rinehart later stood down as trustee during proceedings, and the matter became one of Australia's most prominent family wealth disputes. The company expanded into agriculture in 2016 through a majority investment in S. Kidman & Co. It also developed an investment position in Arafura Rare Earths, reflecting interest in minerals viewed as strategically important to future supply chains. Hancock Prospecting remains privately held, with ownership divided principally between Gina Rinehart and the Hope Margaret Hancock Trust. The group has also been a recurring subject of public debate. Lang Hancock made highly controversial statements advocating coercive treatment of Indigenous Australians, including remarks broadcast in a 1984 interview. Gina Rinehart did not publicly condemn or apologise for those remarks in 2022, when an Indigenous athlete questioned the company's sponsorship of Netball Australia. Hancock Prospecting then withdrew the sponsorship. Other controversies have involved its funding of the Institute of Public Affairs, environmental and resource-development debates, and the continuing legal dispute with the Wright family over historical Hanwright rights.
- 2023
Wright Prospecting files civil action
[1]Descendants of Peter Wright initiated proceedings concerning historical Hanwright assets, royalties and interests in several Hope Downs deposits.
- 2022
Netball Australia sponsorship withdrawn
[1]The company withdrew its proposed sponsorship after concerns about Lang Hancock's historical comments were raised by Indigenous netballer Donnell Wallam.
- 2016
Diversification into pastoral operations
[1]Hancock Prospecting acquired a 67 percent interest in S. Kidman & Co.
- 2011
Trust litigation begins
[1]Hope Rinehart Welker commenced proceedings concerning the administration of the Hope Margaret Hancock Trust; other family members later became involved.
- 1988
Hope Margaret Hancock Trust established
[1]Lang Hancock established the trust for the benefit of his four grandchildren and nominated Gina Rinehart as trustee.
- 1960
Rio Tinto agreement establishes historical royalty interest
[1]Hanwright reached an agreement with Rio Tinto connected with Pilbara discoveries, including a 2.5 percent interest in iron ore sold from those discoveries.
- 1955
Hancock Prospecting founded
[1]Lang Hancock formally founded Hancock Prospecting as a private Australian prospecting and mining business.
- 1930
Hanwright partnership formed
[1]Lang Hancock and Peter Wright established the partnership that preceded Hancock Prospecting and pursued mineral opportunities in Western Australia.
Products and positioning
A major Australian private resources group focused on iron ore ownership, mineral development and long-term control of mining and pastoral assets.
Mining commodity
Iron ore
Iron ore is Hancock Prospecting's core business and the basis of its principal Pilbara assets. The group holds interests in Hope Downs with Rio Tinto and developed Roy Hill as a majority-owned project with international steel and trading partners. Its Pilbara portfolio includes Brockman and Marra Mamba ore resources.
Mining commodity
Coal
Hancock Prospecting has pursued coal development in Queensland's Galilee Basin through projects including Alpha Coal and Kevin's Corner. These projects form part of the group's diversification beyond Western Australian iron ore, although their development status has varied.
Mining commodity
Manganese
The group has held manganese interests in the Pilbara, including the Nicholas Downs project and the Balfour Downs operation, both associated with Mineral Resources joint ventures or cooperation.
Mineral exploration and investment
Rare earths and exploration minerals
Through exploration alliances and investments, Hancock Prospecting has examined or held exposure to uranium, molybdenum, lead, zinc, gold, diamonds, petroleum and rare earths. The company owns a significant minority stake in Arafura Rare Earths.
Agriculture · 2016
Cattle and pastoral operations
Hancock Prospecting entered the pastoral sector through its majority investment in S. Kidman & Co. This business adds cattle stations and agricultural assets to the group's traditionally mining-focused portfolio.
Controversies
2023
Wright Prospecting royalty and asset dispute
Wright Prospecting commenced civil proceedings alleging that descendants of Peter Wright retained rights to part of the historical Hanwright royalty and to certain Hope Downs assets. Hancock Prospecting is defending its position in the dispute.
2017
Funding of the Institute of Public Affairs
Payments associated with Hancock Prospecting and Gina Rinehart to the Institute of Public Affairs drew scrutiny because they represented a substantial portion of the think tank's reported revenue and were not clearly disclosed in its annual reporting.
2011
Hope Margaret Hancock Trust family dispute
Gina Rinehart's children challenged aspects of her administration of the Hope Margaret Hancock Trust. The proceedings involved suppression orders, appeals and allegations concerning the trustee's conduct.
1984
Lang Hancock's remarks about Indigenous Australians
In a televised interview, founder Lang Hancock made racist and coercive remarks about Indigenous Australians. The statements have remained central to public criticism of the Hancock name and later affected the company's sponsorship relationship with Netball Australia.
Marketing campaigns
- 2022Netball Australia sponsorship
Australia
Hancock Prospecting agreed to sponsor Netball Australia, but the arrangement became controversial after Indigenous player Donnell Wallam expressed concern about Lang Hancock's historical comments. The company subsequently withdrew the reported A$15 million sponsorship.
Outcome. Sponsorship withdrawn
Brand decisions
2023
Defence of historical Hanwright ownership positionOtherBackground
Wright Prospecting brought proceedings concerning historical partnership rights, royalties and Hope Downs assets.
Action taken
Hancock Prospecting became the defendant in civil litigation in the Supreme Court of Western Australia.
Aftermath
The ownership and royalty questions remained subject to court proceedings.
2022
Withdrawal from Netball Australia sponsorshipOtherBackground
The sponsorship became contentious after concerns were raised about historical statements by founder Lang Hancock and their effect on Indigenous participants.
Action taken
Hancock Prospecting withdrew its sponsorship commitment.
Aftermath
The proposed commercial relationship ended before it could become an established long-term sponsorship.
Reported sponsorship value. A$15 million (2022)
2016
Diversification into cattle and agricultureStrategyBackground
The group sought to broaden its asset base beyond mining and iron ore.
Action taken
Hancock Prospecting acquired a 67 percent interest in S. Kidman & Co.
Aftermath
The transaction established a significant pastoral and cattle component within the privately held group.
Recent events
Reported
Little Green Pharma secures A$27.2 million placement commitments[3]
Little Green Pharma received commitments to raise A$27.2 million through a placement to institutional and sophisticated investors. The proceeds were to be applied toward the acquisition, its European sales team, capital expenditure and working capital.
Sources3 sources
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