Hyperdrive
Iron Ore Billionaire’s Lithium Raid Leaves Investors Guessing
- Gina Rinehart raised her stake in Liontown to 16.7% on Friday
- Albemarle is expected to conclude due diligence this week
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Gina Rinehart, Australia’s richest woman, has muscled in on one of the largest battery-metals deals to date, building a near-17% stake in Liontown Resources Ltd. and threatening its A$6.6 billion ($4.2 billion) takeover by US giant Albemarle Corp.
What the iron ore billionaire has yet to do is explain what she will do with her increasing sway in the lithium miner.