Australian mining entrepreneurs

Last updated

The Australian mining industry has had a series of people who have had significant impact on the Australian economy as well as the mining industry due to their wealth, and their investment in the industry. [1] Sometimes they are designated as Mining Magnates, [2] and they are ascribed other titles such as Mining Tycoons, [3] however in most cases they are significantly very public figures in the media of their times. Also during various changes in the national economy and mining industry some smaller players have had to adapt to the change. [4] [5]

Contents

There have been occasions where they join in protest against politicians, [6] or alternatively they become leaders of political parties, or politicians. [7] The claims that Australian mining entrepreneurs have control over the political process also arises at times. [8] At times tycoons have also been known to have rivalries and difference that become public. [9]

Some people who have been more acutely private about their wealth and lives, also can be understood to be those who have gained from the mining and resources industries, such as Mark Creasy, [10] Rick Stowe [11] and Alan Bond whose interests at some stage in his fluctuating fortunes had investments in the industry. [12] Stan Perron is also another who shies from any publicity. [13] There are also lesser known individuals who have also contributed to the industry, who have not been recognised for their investment in the industry.

Notable Australian mining entrepreneurs

Obscure entrepreneurs

Notes

  1. Woodford, Peter J.; J.B. Were & Son (1993), A century of Australian mining entrepreneurs, J.B. Were, retrieved 2 February 2014
  2. The superlatives rise to further – Mega-Magnates – see Knox, Malcolm (2013), Boom : the underground history of Australia, from Gold Rush to GFC, Melbourne, Victoria Viking, ISBN   978-0-670-07611-6
  3. Dumett, Raymond E (2009), Mining tycoons in the age of empire, 1870-1945 : entrepreneurship, high finance, politics and territorial expansion, Ashgate, ISBN   978-0-7546-6303-4 Claude de Bernales has a chapter as a 'Tycoon' – in Mel Davies Claude De Bernales, wizard of Australia's golden west
  4. "Rich year for mining magnates", Australasian Business Intelligence, COMTEX News Network, Inc, 26 May 2010, ISSN   1320-6680
  5. Baker, Russell (10 November 1998), "Desperate and dateless.(the Australian mining entrepreneurs)", The Bulletin with Newsweek, 117 (6148), A C P Computer Publications: 54(1), ISSN   1440-7485
  6. "Aust Mining Magnates Muster Support to Fight Planned Profits Tax", AsiaPulse News, Asia Pulse Pty Ltd, 9 June 2010, retrieved 2 February 2014
  7. Australian Broadcasting Corporation. Radio National (8 September 2013), Clive Palmer, Australian Broadcasting Corporation, retrieved 2 February 2014
  8. "Mining merger threatened as tycoons clash; Merger.(Business)", Sunday Times (London, England), NI Syndication Limited: 6, 7 April 1996, ISSN   0956-1382
  9. Gooding, Ken (24 September 2004), "Still at the sharp end.(mining engineer Mark Creasy)(Biography)(Column)", Mining Journal, Mining Communications, Ltd: 17(1), ISSN   0026-5225
  10. Australian Broadcasting Corporation. Radio National (15 January 2010), Rick Stowe's Griffin Coal empire in trouble, Australian Broadcasting Corporation, retrieved 3 February 2014
  11. Barry, Paul (1990), The rise and fall of Alan Bond (Rev. ed.), Bantam Books (published 1991), ISBN   978-1-86359-001-3
  12. "Business and investment Little-known millionaire behind the big takeover". The Canberra Times . 22 July 1987. p. 26. Retrieved 3 February 2014 via National Library of Australia.
  13. Davies, Mel (1997), "Metropole and periphery city finance, Claude de Bernales and West Australian gold mining 1900-1939", Australian Mining History Association. Conference (1996: University of Melbourne, Vic). Proceedings: 34–44, ISBN   978-0-646-34346-4
  14. 1 2 Chairman Argus has a little bet each way The Age , published: 8 February 2008, accessed: 2 February 2014
  15. Parnell, Sean (September 2013), Clive : the story of Clive Palmer, Sydney HarperCollins Publishers Australia (published 2013), ISBN   978-1-74309-816-5
  16. Jones, Timothy G (2008), Ping Que : mining magnate of the Northern Territory 1854-1886, Historical Society of the Northern Territory, ISBN   978-0-9803254-3-0
  17. Watt, Michael G (2013), The Watt family : from Bounty immigrants to mining entrepreneurs (Second ed.), Sandy Bay, Tasmania Michael G. Watt, retrieved 2 February 2014

Related Research Articles

Crony capitalism, sometimes also called simply cronyism, is a pejorative term used in political discourse to describe a situation in which businesses profit from a close relationship with state power, either through an anti-competitive regulatory environment, direct government largesse, and/or corruption. Examples given for crony capitalism include obtainment of permits, government grants, tax breaks, or other undue influence from businesses over the state's deployment of public goods, for example, mining concessions for primary commodities or contracts for public works. In other words, it is used to describe a situation where businesses thrive not as a result of free enterprise, but rather collusion between a business class and the political class.

<span class="mw-page-title-main">Conglomerate (company)</span> Large company involved in many industries

A conglomerate is a type of multi-industry company that consists of several different and unrelated business entities that operate in various industries under one corporate group. A conglomerate usually has a parent company that owns and controls many subsidiaries, which are legally independent but financially and strategically dependent on the parent company. Conglomerates are often large and multinational corporations that have a global presence and a diversified portfolio of products and services. Conglomerates can be formed by merger and acquisitions, spin-offs, or joint ventures.

<span class="mw-page-title-main">Venture capital</span> Form of private-equity financing

Venture capital (VC) is a form of private equity financing provided by firms or funds to startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in terms of number of employees, annual revenue, scale of operations, etc.. Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing start-ups in the hopes that some of the companies they support will become successful. Because startups face high uncertainty, VC investments have high rates of failure. Start-ups are usually based on an innovative technology or business model and they are often from high technology industries, such as information technology (IT), clean technology or biotechnology.

A business magnate, also known as an industrialist or tycoon, is a person who has achieved immense wealth through the creation or ownership of multiple lines of enterprise. The term characteristically refers to a powerful entrepreneur and investor who controls, through personal enterprise ownership or a dominant shareholding position, a firm or industry whose goods or services are widely consumed. Such individuals have been known by different terms throughout history, such as robber barons, captains of industry, moguls, oligarchs, plutocrats, or tai-pans.

<span class="mw-page-title-main">Claude de Bernales</span> Australian mining entrepreneur

Claude Albo de Bernales was a Western Australian mining entrepreneur whose business activities and marketing did much to stimulate investment in Western Australia during the early years of the twentieth century. During the 1930s gold production in the State increased from £1,600,000 to £11,800,000 and employment in the industry quadrupled due in considerable part to de Bernales' marketing of the goldfields to overseas investors.

<span class="mw-page-title-main">Wiluna Gold Mine</span> Gold mine in Western Australia

The Wiluna Gold Mine is an inactive gold mine in Western Australia near the town of Wiluna. The mine was active from 1984 until its closure in 2007 when it was put into care and maintenance, and again from late 2008 to June 2013 when the owners, APEX Minerals, went into receivership. Following this, the mine had been placed in care and maintenance again in 2013. In January 2014 it was announced that the mine would be sold to Blackham Resources, with the deal to be finalised by March 2014. Mining resumed in 2016 and Blackham was renamed to Wiluna Mining Corporation in 2020. In July 2022, the Wiluna Mining Corporation entered voluntary administration, with mining ceasing in December 2022 and processing in February 2023.

<span class="mw-page-title-main">Gold Coast United FC</span> Australian soccer club in Queensland

Gold Coast United Football Club is an Australian soccer club based in Gold Coast, Queensland. The earliest incarnation of the club formed in 1966 and its home ground was at Nikiforides Family Park in Broadbeach. The first era of Gold Coast United senior teams competed in the Brisbane leagues until the club disbanded after the 1979 season, allowing Broadbeach United Soccer Club to form its first senior team in 1980 at the same grounds.

Sir Clive Cowdery is an English businessman and philanthropist who made a personal fortune in the insurance industry, founding two FTSE100 insurers and a third insurer which has deployed circa $5bn in capital with $90bn in assets, and has since donated large amounts to charity, including the Resolution Foundation which he founded in 2005.

Pericles Panagopoulos was a Greek shipping magnate. He is considered to have been an institutor of the modern shipping industry, and the most successful Greek shipping magnate since Aristotle Onassis. He gained acclaim for having created three shipping business entities, in his lifetime. In 1989, he sold Royal Cruise Lines to Kloster for a reported US$300 million. In 2007, he sold his Athens-based Attica Group for about US$404 million to Marfin Investment Group (MIG). He also owns Magna Marine Inc., a modern shipping company that owns and runs modern bulk carriers. His death was announced by his wife, on Facebook on February 5, 2019.

<span class="mw-page-title-main">Clive Palmer</span> Australian businessman and politician (born 1954)

Clive Frederick Palmer is an Australian businessman and politician. He has iron ore, nickel, and coal holdings. Palmer owns many businesses such as Mineralogy, Waratah Coal, Queensland Nickel at Townsville, the Palmer Coolum Resort on the Sunshine Coast, Palmer Sea Reef Golf Course at Port Douglas, Palmer Colonial Golf Course at Robina, and the Palmer Gold Coast Golf Course, also at Robina. He owned Gold Coast United FC from 2008 to 2012. Palmer created the Palmer United Party in April 2013, winning the Sunshine Coast seat of Fairfax in the 2013 Australian federal election and sitting as an MP for one term.

<span class="mw-page-title-main">Gold mining in Western Australia</span>

Gold mining in Western Australia is the third largest commodity sector in Western Australia (WA), behind iron ore and LNG, with a value of A$17 billion in 2021–22. The 6.9 million troy ounces sold during this time period was the highest amount in 20 years and accounted for almost 70 percent of all gold sold in Australia.

The Minerals Resource Rent Tax (MRRT) was a resource rent tax formerly imposed by the government of Australia on profits generated from the mining of non-renewable resources in Australia. It was a replacement for the proposed Resource Super Profit Tax (RSPT).

Mineralogy is an Australian mining company owned by Clive Palmer. The company is involved in mining exploration and development, principally iron ore, in Western Australia. Mineralogy had assets of A$594 million in 2018. It entered a US$415 million arrangement with the Chinese company CITIC in 2006. Mineralogy and CITIC have been in legal disputes over royalties and other matters since 2013.

Hanlong Group (汉龙集团) is a Chinese conglomerate with holdings in solar energy, communications, chemicals, mineral exploration, and other industries.

<i>Titanic II</i> Proposed ship

Titanic II is a planned passenger ocean liner intended to be a functional modern-day replica of the Olympic-classRMS Titanic. The new ship is planned to have a gross tonnage (GT) of 56,000, while the original ship measured about 46,000 gross register tons (GRT). The project was announced by Australian billionaire Clive Palmer in April 2012 as the flagship of the proposed cruise company Blue Star Line Pty. Ltd. of Brisbane, Australia. The intended launch date was originally set for 2016, delayed to 2018 then 2022, then later set for 2027. Development of the project was resumed in November 2018 after a hiatus which began in 2015, caused by a financial dispute, which affected the $500 million project.

<span class="mw-page-title-main">United Australia Party (2013)</span> Political party in Australia

The United Australia Party (UAP), formerly known as Clive Palmer's United Australia Party and the Palmer United Party (PUP), is an Australian political party formed by mining magnate Clive Palmer in April 2013. The party was deregistered by the Australian Electoral Commission in 2017, revived and re-registered in 2018, and voluntarily deregistered in 2022. The party fielded candidates in all 150 House of Representatives seats at the 2013 federal election. Palmer, the party's leader, was elected to the Division of Fairfax and it reached a peak of three senators following the rerun of the Western Australian senate election in 2014. When the party was revived under its original name in 2018, it was represented by ex-One Nation senator Brian Burston in the federal parliament.

<span class="mw-page-title-main">Cottesloe Civic Centre</span> Civic centre lies in Western Australia

The Cottesloe Civic Centre lies on the corner of Broome and Napier Streets, Cottesloe, Western Australia. It is a local landmark featuring a substantial two storey building with white walls and an orange tiled roof in the Spanish Mission style. Over 2 hectares in area the site offers extensive views westwards over the Indian Ocean and is a popular venue for picnics, concerts, meetings and weddings. It includes the administration centre for the Town of Cottesloe, the War Memorial Town Hall and extensive walled and landscaped grounds with tall Norfolk Island pines.

Mark Gareth Creasy is a Western Australian mining entrepreneur.

Queensland Nickel is a company owned by businessman and former politician Clive Palmer. Queensland Nickel owns and operates the Palmer Nickel and Cobalt Refinery at Yabulu in North Queensland, Australia. The refinery was established in July 1971 Palmer acquired the refinery in 2009 from BHP Billiton. On 19 January 2016 the company entered into voluntary administration. In April, 2016 the company's creditors voted for liquidation.

Edward Lynam O'Brien is an Australian politician. He is a member of the Liberal National Party of Queensland (LNP) and has represented the seat of Fairfax in the House of Representatives since the 2016 federal election. He sits with the Liberal Party in federal parliament. Prior to entering politics he was a businessman and lobbyist, also serving as chairman of the Australian Republic Movement (2005–2007).