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Aussie tycoon doubles down as lithium spoiler
  + stars: | 2023-10-30 | by ( ) www.reuters.com   time to read: +2 min
MELBOURNE, Oct 30 (Reuters Breakingviews) - Lithium M&A is becoming a dangerous sport Down Under. On Friday, Hancock Prospecting, owned by Australia’s richest person Gina Rinehart, revealed it had snapped up an 18.3% stake in Azure Minerals (AZS.AX). Unlike Albemarle, it has not tied its hands by declaring the Azure bid to be its best and final offer. But SQM boss Ricardo Ramos can switch to an off-market offer and try to buy other investors’ stakes first. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Hancock, Gina Rinehart, Chile’s, Rinehart, Albemarle, SQM, Ricardo Ramos, Antony Currie, Peter Thal Larsen, Thomas Shum Organizations: MELBOURNE, Reuters, Australia’s, Minerals, Australian, Liontown Resources, Canaccord, X, Thomson Locations: Western Australia, Liontown
[1/2] An aerial view shows the brine pools of SQM lithium mine on the Atacama salt flat in the Atacama desert of northern Chile, January 10, 2013. REUTERS/Ivan AlvaradoMEXICO CITY, May 18 (Reuters) - Chile's lithium miner SQM is set to start talks about lithium projects with state miner Codelco in the coming weeks, the firm's Chief Executive Officer Ricardo Ramos told analysts in a quarterly earnings call on Thursday. It did not specify quarterly prices in its latest report. "We are positive about volumes for the second quarter and semester," Ramos said when asked about the company's outlook, citing a ramp up of activity in China. "The second quarter is showing a more stable pattern," he said.
[1/3] Lithium evaporation ponds are seen at Albemarle Lithium production facility in Silver Peak, Nevada, U.S. October 6, 2022. REUTERS/Carlos BarriaSANTIAGO, April 25 (Reuters) - Chile's state development office Corfo said on Tuesday it met with U.S.-based miner Albemarle (ALB.N) to discuss the South American country's plan to nationalize the lithium industry. Chile's leftist President Gabriel Boric last week announced that control of the country's vast lithium operations would over time be transferred from Albemarle and SQM (SQMA.SN) to a separate state-owned company. Chile has the world's largest lithium reserves. He added that Albemarle, the world's largest producer of lithium, wants to grow in Chile and in the Atacama salt flat with new technologies.
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