All articles tagged with #gina rinehart
Australia's wealthiest person, Gina Rinehart, was seen at Donald Trump's Halloween party at Mar-a-Lago, highlighting her support for Trump-like policies and her active engagement in US political events amid ongoing US political tensions.
Albemarle, a global lithium producer, has abandoned its plans for a lithium deal in Australia after billionaire Gina Rinehart acquired a significant stake in the company. Rinehart's stake-building raised concerns about potential control over the project, prompting Albemarle to withdraw from the deal.
Albemarle Corp, the world's largest lithium producer, has abandoned its $4.2 billion takeover of Australian miner Liontown Resources Ltd. The decision comes after mining tycoon Gina Rinehart, the largest shareholder in Liontown, steadily built up a 19.9% stake, potentially blocking the deal. Albemarle cited "growing complexities associated with executing the transaction" as the reason for withdrawing its proposal. Rinehart has not provided an alternative plan but seeks a "prominent influence in Liontown's future." The demand outlook for lithium remains robust, driven by the clean energy transition, while Liontown is seeking funding to develop its Kathleen Valley lithium project.