The Strategist

Australia's richest woman increases stake in lithium producer Liontown



10/05/2023 - 09:58



According to regulatory documents, Gina Rinehart, the richest woman in Australia, increased her investment in lithium producer Liontown Resources Ltd. last month from 8% to 14.67%.



Australia's richest woman increases stake in lithium producer Liontown
Since September 12, Rinehart's business, Hancock Prospecting Pty., has purchased Liontown shares four times. Albemarle Corp., the largest producer of lithium in the world, has made an offer to purchase the business for A$6.6 billion ($4.2 billion). According to Bloomberg, a 15% interest is typically thought to be adequate to thwart such transactions.

The majority of Rinehart's fortune, $18.7 billion, is thought to be in mining-related assets. Apart from the share in Liontown she has no other investments in the lithium sector.

According to analyst Max Vickerson of Morgans Financial Ltd., "She seems serious. She was obviously prepared to pay a sizable sum for such a stake. She might be a candidate for a board seat even if the Albemarle purchase is approved."

source: bloomberg.com

 




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