Billionaire Gina Rinehart Buys Stake in Lynas Rare Earths [Financial Post (Toronto, Ontario, Canada)]
LYNAS RARE EARTHS S/ADR (LYSDY)
NASDAQ:AMEX Investor Relations:
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Source: Financial Post
producers vital to the energy transition and lifting shares in the Australian producer. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Gina Rinehart has amassed a near-6% stake in Lynas Rare Earths Ltd., adding to the iron ore billionaire's portfolio of stakes in critical mineral producers vital to the energy transition and lifting shares in the Australian producer. Through her private company Hancock Prospecting Ltd., Rinehart added 6.6 million shares in the Sydney-listed company on Friday, according to a Lynas statement late on Tuesday. The private company began buying up the company's stock last December. Article content Article content Lynas is one of the only rare earths producers outside China — which dominates the supply chain — with a mine and processing plant in Western Australia and a refinery in Malaysia. Its shares jumped early on Wednesday to touch the highest level since Janua
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