World Bank predicts iron ore glut set to continue, putting pressure on WA royalties

Jackson, who is the current president of National Grid Ventures, an energy group, joins Rio Tinto on September 1.

Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.

The world's largest listed miner said iron ore output from Western Australia on a 100% basis was 76.8 million tonnes in the three months to June 30.

The company reported output of 80.6 million metric tons for the steel-making ingredient in the three-month period ended in June.