(Changes dateline, adds Hancock response in paragraph 4, and details in paragraph 5)
MELBOURNE, April 10 (Reuters) - U.S. rare-earths producer MP Materials MP.N said Australian billionaire Gina Rinehart's mining firm had taken a 5.3% stake in the company, expanding her investments in the mineral ore sector.
In a regulatory filing last week, the Nevada-based miner said Hancock Prospecting, owned by Australia's richest person Rinehart, holds about 8.8 million shares of MP Materials.
MP Materials is the second-biggest producer of rare earths outside China after Australia's Lynas Rare Earths (LYC) . Lynas ended talks with MP Materials over a potential merger in February.
Hancock declined to comment on Wednesday. The iron ore miner has been building stakes in critical minerals projects, including rare earths. Hancock's investments include a 6.17% stake in Brazilian Rare Earths (BRE) and a 9.14% holdings in Arafura Rare Earths (ARU) , according to LSEG data.
News: LTR UPDATE 1-Australian magnate Rinehart takes stake in US miner MP Materials
Add LTR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.22 |
Change
-0.025(2.01%) |
Mkt cap ! $2.921B | |||
| Open | High | Low | Value | Volume |
| $1.20 | $1.23 | $1.19 | $2.429M | 2.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 98766 | $1.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.23 | 130942 | 35 |
View Market Depth
| Last trade - 11.29am 01/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$1.23 |
Change
-0.025 ( 1.20 %) |
||||
| Open | High | Low | Volume | ||
| $1.19 | $1.23 | $1.19 | 706098 | ||
| Last updated 11.46am 01/05/2024 ? | |||||
| LTR (ASX) Chart |