Article by Adrian Rauso, courtesy of The West Australian.
29.10.2025
Annual profit produced by the crown jewel of Gina Rinehart’s Pilbara iron ore empire has nearly halved but still remains well above $1 billion.
The massive Roy Hill mine generated a bottom line of $1.8b for the 2025 financial year, freshly filed accounts show, down from a record of $3.2b for the 12 months prior.
Mrs Rinehart’s Roy Hill Holdings labelled the latest net profit result “strong” amid softening iron ore prices and “challenging weather conditions”.
“Record rainfall across the Pilbara and major production interruptions from severe tropical cyclone Zelia, resulted in challenging conditions but operational teams recovered well to ship 61.6 million tonnes of ore for the 2025 financial year,” it stated.
Atlas Iron, Mrs Rinehart’s other key Pilbara iron ore producer, suffered a similar profit fall as its three mines grappled with cyclone Zelia in February and weaker iron ore prices throughout the year.
Atlas posted a net profit of $260 million for FY2025, down from $440m. The average realised price for iron ore decreased by nearly 20 per cent.
In June, Mrs Rinehart announced she would merge her Roy Hill and Atlas into one Pilbara iron ore mining entity — Hancock Iron Ore. Hancock Iron Ore’s next big mine expansion is set to be finished soon.
“Our new McPhee mine is due to begin producing first ore next year. McPhee will extend the life of Roy Hill, a mega mine that has delivered more than $12b in taxes and royalties to governments and over $26b to suppliers across Australia over the last 10 years,” Mrs Rinehart said.
Australia’s richest person also used Roy Hill’s results release to again urge the nation’s politicians to cut red and green tape.
“We need to better understand that excessive government tape, regulations and taxes, intermittent, unreliable and by international standards, high cost electricity, do nothing to enable higher productivity or halt the decline in our international competitiveness, hence do nothing to encourage more investment in mining,” Mrs Rinehart said.