Board and Senior Managers

CHAIRMAN & DIRECTOR

MRS. GEORGINA HOPE RINEHART

Born: 9th February 1954, Perth, West Australia

Educated: St Hilda's Anglican School for Girls, Sydney University

Mrs Rinehart joined the Hancock Group initially as a Personal Assistant to her father, the late Lang Hancock, after studying Economics at Sydney University. Mrs Rinehart gained an extensive knowledge of the Pilbara iron ore industry during those years and in particular at Marandoo, for which a bankable feasibility study was undertaken (after intitial exploration by Hancock Prospecting Pty Ltd), in conjunction with then partner, Texas Gulf of the USA. Mrs Rinehart became Executive Chairman of Hancock Prospecting Pty Ltd (HPPL) and the HPPL Group of companies in March 1992.

Since becoming Executive Chairman, and after entering the Iron Ore (Hope Downs) State Agreement in December 1992, the Hancock Group has explored and undertaken a pre-feasibility study of Hope Downs, and commenced a bankable feasibility study. Mrs Rinehart was awarded “Deal of the Year” at the 2006 Diggers and Dealers Forum for the 50:50 Joint Venture with RTIO at Hope Downs, which now has two mines in production and a third under construction, and further development work is being undertaken.

In 1992, after undertaking the first exploration field trip (together with Chief Geologist, Richard Paquay), Mrs Rinehart decided HPPL should apply for the Roy Hill 1 tenements, which were granted in 1993. HPPL has extensively drilled this low phosphorous resource and proven in excess of one billion tons to JORC specification (cut off by 55% FE) and has finalised a positive bankable feasibility study on the Roy Hill 1 project, a project that is potentially the largest undeveloped marra mamba deposit in Australia (outside of the majors). HPPL is currently in the process of seeking partners to develop this major resource.

In 1996 Mrs Rinehart decided HPPL should apply for the Alpha coal tenements in Queensland. An extensive exploration program, together with completing a positive pre feasibility study and bankable feasibility study has since been undertaken by HPPL, and a JORC reserve in excess of 4 billion tonnes of good quality thermal coal, low in sulphur and low in ash, has been identified. HPPL is currently in the process of seeking partners to develop this major resource, and has nearly completed a value engineering study. Planning (subject to all Government approvals and licences) is for a 30 mtpa mine (which would be Australia's largest thermal coal mine).

Mrs Rinehart has also progressed the adjacent Kevin's Corner thermal coal tenement, which also contains in excess of 3 billion tonnes. A positive pre feasibility study has been completed, a bankable feasibility study commenced and a JORC resource well in excess of 2 billion tonnes of good quality coal, low in sulphur and low in ash, has been identified. Subject to all Government approvals, it is also planned in the bankable feasiblility study that this mine will produce after ramp up at approximately 30 mtpa - again larger than any thermal coal mine currently existing in Australia.

Exploration work and a concept study has also been progressed at Hancock Alpha West, and this third mine is also planned to produce in the vacinity of 30 mtpa after all approvals, permits and licences.

In 2007, Mrs Rinehart entered the Jacaranda Joint Venture Alliance, which has applied for additional tenements and holds tenements across Australia (Uranium, Lead, Zinc, Molybedum, Gold, Diamonds and Petroleum), and HPPL manages the exploration. Early indications are showing some extensive deposits.

Mrs Rinehart continues to oversee significant progress exploring, evaluating and expanding potentially world class mine developments in the Hancock Prospecting Group portfolio, together with an expanding property portfolio, and pastoral interests.

Mrs Rinehart continues as a director of the Hope Downs Marketing company, a joint marketing company with RTIO.

In December 2010 Mrs Rinehart joined the board of Network Ten.

Additionally Mrs Rinehart has been honoured with:

1991 Commissioned a Kentucky Colonel by the Govenor of Kentucky
2006 Diggers and Dealers "Deal of the Year"
2009 Australian Export Heros Award (in recognition to an extraordinary contribution to the growth and development of Australian exports)
2009 Telstra - West Australian Commonwealth Bank Business Owner Award
2009 Telstra West Australian Business Woman of the Year
2009 Telstra Australian Commonwealth Business Woman of the Year (National)
2009 Telstra Australian Business Woman of the Year (National)
2010 Non Executive Director SISHA
2011 100 Year Centenary, Hall of Fame (WA)
2011 Global Leadership Award (the 'Masterclass CEO of the Year')

DIRECTOR

TAD WATROBA

Tad Watroba has more than thirty years’ experience in both open cut and underground mining, encompassing mining operations, mine planning, feasibility studies, project financial evaluation, negotiations with government and non-government organizations, business development, joint venture participation, project commissioning, exploration management, audits and other related activities.

Tad has worked in iron ore, manganese, gold, brown and black coal, oil shale, copper, zinc and lead and was employed by Bechtel and several small-to-medium sized gold companies before joining HPPL in 1991. Tad has broad and significant experience with mining projects in Australia, Papua New Guinea (Ok Tedi), China and New Zealand.

CHIEF FINANCIAL OFFICER / COMPANY SECRETARY

JAY NEWBY

Jay Newby is a chartered accountant and was admitted to the Institute of Chartered Accountants in Australia in 1988. He has broad experience in corporate finance, accounting and tax, and mergers and acquisitions, specialising in the mining/resources and property/construction sectors both in Australia and South-East Asia.

CHIEF COMMERCIAL COUNSEL

TERRY WALSH

Terry Walsh has extensive corporate, commercial and mining experience gained through a role as a Corporate Counsel with Rio Tinto. Prior to that he was a Senior Associate with a number of leading law firms in Perth and Sydney. He holds a Master of Laws degree.

MANAGING DIRECTOR – COAL

PAUL MULDER

Paul Mulder is Managing Director - Coal. He has been heading up the Alpha Coal Project since September 2007 and his responsibilities have increased to include the Kevin's Corner Coal Project in Queensland also.

Prior to joining Hancock Prospecting Pty Ltd, Paul worked in a variety of operating and management positions in the steel and resources sectors. Paul commenced his career at BHP Steel subsequently transferring to other divisions in coal (BHP Mitsubishi Alliance) and iron ore (Western Australian Iron Ore). Paul also worked for BIS Industries (formerly part of Brambles) in the provision of contract mining services.

Paul is a Materials Engineer and has an MBA with 17 years of operational and commercial experience.