Hancock Prospecting will acquire Mineral Resources’ energy assets in the Perth Basin in a $1.1 billion deal.
Hancock Prospecting has struck a $1.1 billion deal to acquire Mineral Resources’ energy assets in the Perth Basin with the mining giant becoming one of Western Australia's largest onshore acreage holders.
Hancock is also set to acquire 50 per cent of the remaining petroleum acreage MineRes holds in the Perth Basin and Carnarvon Basin. It comes after speculation was sparked by MineRes raising the potential sale of its gas assets in the state last month. “Gas is critical to underpin base load power requirements and support local industry with the provision of reliable energy,” she said.
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