Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
Helicon Group, an Australian medical company, will spend $3 million to develop a cancer therapy that relies on magnets and iron ore.
Nanoparticles of iron ore are injected into a tumour while a magnet is used to heat the tumour and destroy it.
Fabio Pannuti, Helicon Group’s chief executive, said the treatment is still in its early stages.
“Obviously the Holy Grail is to achieve a result in humans, but at this stage our main plan is to develop an animal model that can kick off in 18 months’ time,” he told The West Australian.
“At present the nanoparticles are sourced in Germany but as we’re an Australian company we would like to partner with a large mining company here.”
