Atlas Iron defers Ridley investment call as ā€˜onerousā€™ approvals slow Gina Rinehartā€™s foray into magnetite

by Pelican Press
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Atlas Iron defers Ridley investment call as ā€˜onerousā€™ approvals slow Gina Rinehartā€™s foray into magnetite

Hancock Prospecting has deferred part of its plans to tap into the WA magnetite market and delayed a final investment decision on its proposed Ridley mine, pinning the move on approvals uncertainty and water supply.

For the past two years, Gina Rinehart-owned Hanroy has been undertaking studies for its smaller, sister business Atlas Iron to potentially make a mine of the Ridley magnetite deposit east of Port Hedland.

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