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☆ Meet Gina Rinehart, the Australian mining magnate worth almost $19 billion
▼ + stars: | 2024-08-12 | by ( Paige Bruton | ) www.businessinsider.com time to read: +4 min

Read previewGina Rinehart has long been one of Australia's richest people thanks to her company Hancock Prospecting, which controls the country's largest iron ore mine. Rinehart has also been highly involved in funding Australian sport — and made headlines following family disputes. When he died in 1992, Rinehart took over Hancock Prospecting and acquired the Roy Hill mine soon after. Paul Morigi/Getty ImagesSports enthusiastRinehart has been called a "godmother" to Australian sport after donating millions of dollars to swimming, rowing, volleyball, and artistic swimming teams in recent years. Rinehart has also been embroiled in court battles with her son John Hancock and daughter Bianca Rinehart over the rights to mining royalties worth billions of dollars.

Persons: —, Gina Rinehart, Hancock, She's, Chile's SQM, Rinehart, Queen Elizabeth II, Paul Kane, Lang Hancock, Hill, Paul Morigi, Rinehart's, Rose Porteous, John Hancock, Bianca Rinehart, Vincent Namatjira, Vincent Namatjira's Organizations: Service, Bloomberg, Forbes, Business, University of Sydney, Hancock, House, Australian, Getty, National Gallery of Australia Locations: Perth, Pilbara, Western Australia

☆ As Aussie magnates gatecrash lithium deals, bankers get creative
▼ + stars: | 2023-11-15 | by ( Melanie Burton | ) www.reuters.com time to read: +5 min

In taking the stakes, Hancock has underscored its expertise in building mining projects, while Mineral Resources has said it wants to be part of projects that will sustain its growth for decades. Hancock and Mineral Resources declined to make additional comments. As well as Liontown, Core Lithium (CXO.AX), Leo Lithium (LLL.AX) Latin Resources (LRS.AX) Patriot Metals , Chalice (CHN.AX), Centaurus (CTM.AX) and Rex Minerals (RXM.AX) have all been cited by brokers as buyout prospects. TWO-PRONGED SOLUTIONTheir deep pockets, risk appetite and Australia's competition laws means mining magnates have a home advantage against listed companies, industry sources say. One example that bankers offered in the case of SQM's bid for Azure was a two-pronged solution to erode any interloper advantage.

Persons: Gina Rinehart, Roy Hill's, Hancock, Chris Ellison, Rinehart's Hancock, Marc Upcroft, you've, Leo Lithium, Richard Lustig, Baker McKenzie, Melanie Burton, Christian Schmollinger Organizations: REUTERS, MELBOURNE, Mineral Resources, Australia's, PwC, Rex Minerals, Thomson Locations: Port Hedland, Australia, Australia's Liontown, Albemarle, Hancock, Melbourne

Livent CEO Paul Graves will take the top job at the newly minted Arcadium Lithium, if Allkem shareholders vote for the deal on Dec. 19. Merging the two companies would create the world's third-largest lithium producer by volume with assets spanning Australia, Canada and Argentina. Graves has said that one of his first priorities would be expanding Arcadium's footprint in Western Australia's world-class lithium districts. Under the deal, Allkem shareholders will get one share in the combined entity for each of their shares and the company will ultimately own 56% of the new firm. Livent shareholders will get 2.406 shares in the new firm, which will be called Arcadium Lithium, for each existing share.

Persons: Arcadium, Paul Graves, Kroll, Chile's, Graves, Albemarle, Livent Corp, Livent, Allkem, Scott Murdoch, Melanie Burton, Robert Birsel Organizations: JV, SYDNEY, Albemarle Corp, Liontown Resources, Hancock, Livent, FMC Corp, Galaxy Resources, Thomson Locations: Australia, U.S, Canada, Argentina, Western Australia, Sydney, Melbourne

[1/2] A general view shows the brine pools of Albemarle Chile lithium plant placed on the Atacama salt flat, Chile, May 4, 2023. "It seems like the cheapest way to get lithium units is via the drill bit," said analyst Kaan Peker of RBC in Sydney. "Even though battery chemistry is evolving and impacting certain metals, lithium is a mainstay and the demand story remains robust. The battery metals landscape, and lithium in particular, looks poised for further M&A activity,” said Gavi Friedland, head of metals and mining at Goldman Sachs in Australia & New Zealand. Mineral Resources is deciding whether to build an Australian lithium battery chemical plant, while Albemarle is expanding production at its Kemerton hydroxide plant and SQM is also building a lithium hydroxide plant.

Persons: Ivan Alvarado, acquirers, Kaan, ”, Gavi Friedland, Goldman Sachs, Guy Alexander, Buyers, Japan's Idemitsu, Delta, Tony Chong, Squire Patton Boggs, Jakob Stausholm, Stausholm, Dale Henderson, Melanie Burton, Veronica Brown Organizations: REUTERS, Chile, Albemarle Corp, RBC, Develop, Mineral Resources, Metals, Minerals, Liontown Resources, Climate Capital, Consultancy, EV, Goldman, New Zealand, Resources, Tinto, Patriot Metals, Canada, Reuters, Thomson Locations: Albemarle Chile, Chile, MELBOURNE, Australia, Sydney, Andover, Albemarle, Perth, China, U.S, Canada, Quebec

☆ Factbox: Ford strikes multiple lithium deals to ramp up EV production
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

COMPASS MINERALS (CMP.N):Ford signed a five-year supply agreement to obtain battery-grade lithium carbonate from Compass' lithium brine development project in Ogden, Utah. Under the agreement, Compass Minerals will deliver up to 40% of its planned, phase-one battery-grade lithium carbonate to Ford once production begins. NEMASKA LITHIUM:Nemaska Lithium, owned by Investissement Québec and Livent (LTHM.N), will supply lithium products, including lithium hydroxide, to Ford over an 11-year period. ENERGYSOURCE MINERALS:EnergySource Minerals will supply lithium hydroxide produced at its Imperial Valley, California site which is expected to be operational in 2025. SOCIEDAD QUIMICA Y MINERA DE CHILE S.A. (SQM):Chile's SQM (SQMA.SN) and Ford have agreed to a long-term lithium supply agreement, the Chilean lithium miner said in a statement Monday.

☆ Chile's SQM to start lithium talks with state miner Codelco in coming weeks, says CEO
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

[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.

☆ Chile's SQM profits jump more than ten-fold on lithium price surge
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

Sales volumes for lithium and derivatives totaled 41,000 tonnes, the highest quarterly volume ever reported by the company, SQM said in its earnings report. "Our positive results in the lithium market were due to sales volumes and prices significantly above average," the company said. Average lithium prices rose to record levels during the quarter at more than $56,000 per tonne, the company said. Revenues for iodine and its derivatives nearly doubled to reach $215 million, the company said, as sales rose 9%. Albemarle (ALB.N), the world's top lithium producer, also reported a surge in sales earlier this month.

☆ Profits for Chile's SQM surge more than ten fold in third quarter
▼ + stars: | 2022-11-17 | by ( Kevin Buckland | ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - Chilean miner SQM, the world's No. 2 lithium producer, posted on Wednesday a ten-fold jump in third-quarter net profit compared to the year-ago period, landing at $1.1 billion and boosted by sky-rocketing lithium prices and record sales volumes. Sales volumes for lithium, a key rechargeable battery metal, and derivatives totaled 41,000 metric tonnes, the highest quarterly volume ever reported by the company, SQM said in its earnings report. "Our positive results in the lithium market were due to sales volumes and prices significantly above average," the company said. Reporting by Carolina Pulice; Editing by David Alire GarciaOur Standards: The Thomson Reuters Trust Principles.

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