Hancock Iron Ore has released 2025 financial year results for its Roy Hill mine, outlining strong operational performance and a planned extension to operations.

Amongst reports of a net profit of $1.8 billion after tax and a positive safety record was a glimpse into the mine’s future, with a new project earmarked to extend the life of the ageing facility.

Development of the McPhee mine – the newest in Gina Rinehart‘s Atlas Iron arsenal – is almost complete with production of first ore set to start next year with an expected production rate of eight million tonnes per annum.

This, Rinehart said, will extend the life of Roy Hill and will “ensure Hancock Iron Ore remains a trusted and reliable supplier of iron ore in the global market for the long term”.

Despite challenges to the project in Western Australia due to heavy rainfall, Roy Hill still managed to pay over $1.44 billion in corporate tax, royalties and state taxes – seeing a total of $12 billion being paid over the last 10 years of operation.

“It’s a testament to the strong culture of commitment and teamwork we’ve created at Hancock Iron Ore that we can deliver results that make us all proud and continue to work together to build the best mining company for Australia,” Hancock’s chief executive officer Gerhard Veldsman said.

The financial report also highlighted that over $700 million has been committed to new capital throughout the year, including the refurbishment and upgrades of rooms at the accommodation village.

A total of $1.8 billion has been reportedly injected into the Western Australian economy and a further $1 billion into the national economy in 2025.

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