Gina Rinehart's Hancock Prospecting is consolidating its two iron-ore businesses – Roy Hill and Atlas Iron – into a single entity named Hancock Iron Ore, in a move the company says will combine the strengths and experience of both operations to drive future growth.

The new brand, effective from July 1, aims to streamline operations and maintain Hancock’s position as a dominant force in Australia’s iron-ore industry. Roy Hill currently ships about 64-million tonnes a year of iron-ore, while Atlas Iron exports about 10-million tonnes a year.

“The world of iron-ore is evolving and so are we,” said Hancock Iron Ore CEO Gerhard Veldsman.

“Atlas Iron and Roy Hill are joining forces to become Hancock Iron Ore – bringing together our experience and combined strengths, and continuing to support many small, medium and larger business, in West Australia and across Australia.”

The restructuring follows years of investment and growth under the leadership of executive chairperson Rinehart, who thanked long-standing partners Posco, Marubeni and China Steel for their role in backing the Roy Hill project.

“Finding partners to invest alongside Hancock prospecting in our megaproject Roy 15 years ago was critical, and we would not be in the position we are in today... without Posco, Marubeni and China Steel partnering and investing substantially with us,” Rinehart said.

Since acquiring Atlas Iron in 2018 during a period of financial distress, Hancock has revitalised the business, boosting profitability and export volumes. Combined, the two companies have contributed more than A$11.5-billion in royalties and taxes to governments, while also injecting billions into the Western Australian economy through contracts and services.

Rinehart called the merger “the beginning of an exciting new chapter . . . a future where we are not just a great mining company, but we are the best mining company in Australia”.

As part of this next phase, Hancock Iron Ore will establish a new headquarters in West Perth, near the current Hancock Prospecting offices. The interior fit-out is expected to be completed by November, with a move-in planned for 2026.

However, Rinehart expressed concern over declining investment into Australia, warning it could negatively impact public revenue and living standards.

“Regrettably, more recently investment into Australia is declining. This will badly affect tax revenue, record national debt, opportunities and living standards,” she said. “We hence need to be very encouraging of policies that are more welcoming to investment. Other countries are certainly doing this.”

The name change will not affect existing contracts or obligations, with both Roy Hill and Atlas Iron continuing to operate under the same trading entities.

“I’d like to thank our loyal partners and staff whose hard work and commitment have helped to build Roy and Atlas to enable us to evolve into Hancock Iron Ore, the best mining company in Australia,” Rinehart said.