Hancock Prospecting

OVERALL
Owned	AUS
Rating

Iron ore mining

Founded by Lang Hancock in 1955 and now chaired by Australia's wealthiest person Gina Rinehart. Gina Rinehart owns 76% of the company and is the daughter of Lang Hancock. Operates major mining projects in WA and Queensland.

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PRAISE	CRITICISM	INFORMATION
Hancock Prospecting Pty Ltd
	Fined over financial breaches This company pleaded guilty to breaches of the Corporations act, resulting in fines worth $130,000 for failing to lodge annual reports with the Australian Securities and Investments Commission on time. 13 breaches between three companies attracted fines of $10,000 for each offense. [Source 2015][More on Finance]	Political donations According to the democracyforsale.net website, this company donated $441,900 to Australia's major political parties between 2012 and 2018, as disclosed to the Australian Electoral Commision (AEC). [Source 2018][More on Politics] Tax paying in Australia Between 2015 and 2018 this company paid $965 million tax on a total income of $7 billion, earning the number 19 spot on Michael West's Top 40 Tax Payers 2020. West calculated which of Australia's largest companies have paid the most tax using three years of tax transparency data published by the Australian Tax Office. [Source 2018][More on Finance]

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