Why Gina Rinehart has bought a significant stake in Liontown Resources?
Gina Rinehart’s Hancock Prospecting has confirmed it is the buyer of a significant stake in Liontown Resources. The company has acquired a 7. 72% stake in Liontown Resources, potentially disrupting the $6. 6 billion cash offer from US lithium giant Albemarle. This investment was strategic and sees opportunities to support the project4. It remains unclear whether this is through a partnership or a full takeover.
Liontown is the owner of the Kathleen Valley lithium project in West Australia4.
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The Project is a prospective high-quality hard-rock lithium deposit in its development phase, which, while still having a number of significant risks including resource conversion, construction execution, and metallurgical recovery, has the potential to operate at scale.
Hancock Prospecting has released a statement on its website explaining why it snapped up Liontown shares. The miner explained that its investment was strategic and sees opportunities to support the project. It remains unclear whether this is through a partnership or a full takeover. Hancock can contribute to Liontown’s future direction alongside other Liontown shareholders, including in relation to potential investment opportunities for downstream value add in West Australia.
Hancock also revealed that it may seek a position on Liontown’s board following its investment. Liontown has not commented on the development4.
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