On 16 November 1952, Hancock discovered the world's largest deposit of iron ore in the Pilbara region of Western Australia...
At the time, however, the common perception was that mineral resources were scarce in Australia, and the Commonwealth Government had enacted an embargo on the export of iron ore, while the Government of Western Australia banned the pegging of claims for iron ore prospects. Hancock lobbied furiously for a decade to get the ban lifted, and in 1961 was finally able to reveal his discovery and stake his claim.

-- WP

Eight years plus, Hancock sat on the knowledge that the world's largest deposit of iron ore was sitting in plain sight in the middle of nowhere Australia. Working over politicians for 8 years, he finally gets what he wants.

And then the real work begins....