The billionaire businesswoman has dramatically scaled back the proposed Mulga Downs iron ore project by 40 per cent to overcome environmental concerns.
has dramatically scaled back plans for the country’s next major iron ore mine as part of efforts to overcome concerns from environment regulators and native title custodians about heritage protection, vegetation clearing and carbon emissions.
Gina Rinehart, the billionaire executive chairman of Hancock Prospecting, has long been critical of environmental regulation.The shrinking of the project comes after a year in which Mrs Rinehart’s companies have campaigned against the Albanese government’sMrs Rinehart had originally planned to clear 8422 hectares of vegetation to build a mine at Mulga Downs – the vast pastoral property where she spent much of her childhood – capable of producing 20 million tonnes of iron ore per year.
The new plan will also remove a section of the project that would have overlapped with the Wittenoom Asbestos Management Area, a, which has been quarantined from human activity because of the health risks posed by the old asbestos mines in the region. The 8 million tonnes per year of lost production at Mulga Downs has an annual face value of almost $800 million based on the $US109.10 a tonne price that S&P Global Platts reported for benchmark ore with 62 per cent iron on October 7.
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