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.
The proposal by Mining Minister Byron Chan, the son of former Prime Minister Sir Julius Chan, has been tabled just as PNG — which is often described as an island of gold in a sea of oil surrounded by gas — is entering a massive resources boom.
