Title Owner
Start Date 2022-12-05
Is Current yes
Percent Stake 10%
Notes ustralia's Hancock Prospecting, owned by iron ore magnate Gina Rinehart, said on Monday it has acquired a 10% stake in Arafura Rare Earths (ARU.AX), raising the richest person in the country's exposure to the booming battery minerals business. According to a stock exchange filing, Hancock Prospecting took around half of a A$121 million ($82.43 million) placement by Arafura last week aimed at raising capital to develop the Nolans rare earths project in central Australia.
Updated over 2 years ago