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Hancock Prospecting

OVERALL

Owned
AUS
Rating
Criticism, some praise

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.

Hancock Prospecting Pty Ltd   AUS     website         

> About the Ratings

Company Assessment

PRAISE CRITICISM INFORMATION
Hancock Prospecting Pty Ltd
Business Ethics 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: Australian Mining (2015)
Business Ethics 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: Democracy For Sale (2018)
Business Ethics 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: Michael West (2018)

> About the Icons

Company Details

Type Private company
Revenue 2 billion AUD (2015)
Employees 980 (2016)
Subsidiaries Hope Dairies Pty Ltd (90% owned) 

Dairy

This subsidiary of Gina Rinehart's Hancock Prospecting was established in 2014 when Rinehart invested in WA dairy company Bannister Downs.


  - Future Fields Pty Ltd (50% owned) 

Dairy

Owned and operated by the Daubney family since 1924. In 2014 Gina Rinhart's new company Hope Dairies bought an undisclosed stake (we have listed ownership at 50%, but we don't know the actual percentage).

Contact Details

Address HPPL House, 28-42 Ventnor Ave, West Perth, WA, 6005, Australia
Phone 08 9429 8222
Website www.hancockprospecting.com.au

Products / Brands

Bannister Downs Farm (50% owned)
Bannister Downs Farm (WA) Milk
Bannister Downs Farm (WA) Flavoured Milk


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