Australian mining magnate Gina Rinehart has urged the federal government to reduce regulations for the mining industry so that the nation’s natural minerals and resources can be better utilised to provide security and stability in the Indo-Pacific.
This follows concerns from Japanese gas company Inpex, which said in April that regulatory changes to natural resources such as gas would “choke investment, strangle expansion” and would “allow Russia, China, and Iran to fill the void.”
Speaking at the Queensland Resources Media Club on May 16, Rinehart—who runs the highly successful Hancock Prospecting, a privately owned mineral exploration and extraction company, and is worth an estimated $43.1 billion (US$27.1 billion)—said that being a “reliable supplier” of iron ore and coal for Australia’s allies is necessary given the current geopolitical climate….