Sky News: US investment and improved technology key to the success of business in Australia

Hancock Prospecting Executive Chairman Gina Rinehart says she would like to see Australia “welcome US investment” to improve the “sustainability, safety, productivity and competitiveness” of Australian businesses. Ms Rinehart said she initially needed “to borrow more than US seven billion (dollars)” to fund her $10 million dollar iron ore mining operation at Roy Hill. The project went on to become a financial success and broke records as the “largest largely green field debt funding from mainland resource projects anywhere in the world,” she said.According to Ms Rinehart, “the USA is a world leader in technology, automation and robotics which along with cutting red tape and taxes, is critical to improving productivity and competitiveness in Australian businesses”. Efficient train operations and battery technology had helped to reduce power costs for her company, she said. Ms Rinehart is now in the process of contributing towards the development of an interim solution targeting “improved protocols to help patients suffering with COVID-19”.

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