Gina Rinehart’s Hancock Prospecting says its plans to boost iron ore production are under threat from Albanese government policies.
Hancock is eyeing multibillion-dollar investments in the downstream processing required to turn magnetite mined in Western Australia into a high iron content product that reduces emissions from overseas steel mills, but sees the safeguard mechanism – the Albanese government’s flagship emissions reduction policy for heavy industry – as a major barrier.
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Brad Thompson was a reporter at The Australian Financial Review
