Australia’s richest person increased her stake in Lynas Rare Earths, prompting the miner’s shares to jump more than 5%.
MELBOURNE (Reuters) -Australia's richest person, Gina Rinehart, become a substantial shareholder in Lynas Rare Earths, the largest producer of rare earths outside of China, an exchange filing showed late on Tuesday. The stake, taken by Rinehart's privately held Hancock Prospecting, is fuelling speculation of sector consolidation, after the magnate acted as a kingmaker in Australian lithium, and following merger talks between Lynas and the next biggest Western rare earths miner, MP Materials, earlier this year.
LAS VEGAS, April 11, 2024--MP Materials Corp. (NYSE: MP) will release its financial results for the first quarter ended March 31, 2024, after the U.S. markets close on Thursday, May 2, 2024.