Australia's richest person, Gina Rinehart, has criticised the Albanese government for 'wasting' taxpayer funds on 'woke propaganda'.
Mrs Rinehart made the remarks as her company, Hancock Prospecting, reported a net profit after tax of $2.8billion for the year ending June 30.
The mining business also paid $2.3billion in Commonwealth and state taxes, and has grown total assets to $50.3billion.
Total comprehensive income, which includes gains on Hancock's investment portfolio, was $5.2billion, up from $3.5billion.
Over the last decade, Hancock's total federal and state tax contributions have reached $24.5billion. Additional taxes were also paid through employee salaries.
The result comes after the company's McPhee Creek mine development was opened earlier this month. Ore from the project will be processed at Roy Hill in the Pilbara region.
'No private company in Australia pays more (in taxes),' Mrs Rinehart said following the release of the company's annual report.
'Every single dollar we pay in tax is a dollar that everyday Australians don't have to find themselves or another dollar that is not added to record government debt.'
Australia's richest person, Gina Rinehart, has criticised the Albanese government for 'wasting' taxpayer funds on 'woke propaganda'
Mrs Rinehart took aim at growing government costs, saying that 'the larger governments get, the more they take from taxpayers'. Pictured, Anthony Albanese on Thursday
Mrs Rinehart took aim at the growing government costs in her statement, saying that 'the larger governments get, the more they take from taxpayers'.
'More than $715million of taxpayers' money goes on rent for federal government offices in Canberra, despite their high non-occupancy rates given work-from-home allowances,' she said.
'Taxpayers (are) funding billions of (dollars in) federal subsidies and money spent due to the Paris Accord, including on toxic materials and wrecking the livelihoods and homes of many farmers.
'More billions on the left propaganda machine, the ABC, and unknown amounts on miseducation, DEI woke propaganda and teaching our children to be ashamed of our country, even to hate it. And more.'
Mrs Rinehart concluded her remarks with the statement that life in Australia is being made harder with red tape and climbing regulations while investment moves overseas.
'Record federal debt, record business failures and consequent falling living standards, and Australians struggling with the increasing cost of living are not the signs of a country heading in the right direction,' she said.
'These are the signs of socialist policies that always lead to the same results. They hurt many people.'
The annual statement listed milestones for Hancock Iron Ore and Hope Downs, the company's joint venture with Rio Tinto, along with achievements across its energy, agriculture, investment and property businesses.
The result comes after the company's McPhee Creek mine development was opened earlier this month. Ore from the project will be processed at Roy Hill (where Mrs Rinehart is pictured, centre) in the Pilbara region of Western Australia
Hancock Prospecting is continuing to progress two joint ventures in Saudi Arabia.
The company also highlighted its charitable initiatives, including the acquisition of six apartment buildings in Perth and Brisbane for homeless veterans.
Hancock Prospecting and Mrs Rinehart made significant contributions to Telethon, with the company serving as a Million Dollar Partner since 2021, and helped fund the Australian-first Rinehart Kookaburra Centre for children with complex medical needs at The Children's Hospital at Westmead.
Following Australia's success at the Commonwealth Games in Glasgow, swimmers and para-swimmers shared $1.2million in bonuses provided by the company.
Hancock also provided $6million in October 2025 to Solaris Cancer Care, alongside support for a range of causes and organisations, including domestic violence initiatives, the Royal Flying Doctor Service, Soldier On, the SAS Resources Fund and the Commando Welfare Trust.
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