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(Bloomberg) -- Gina Rinehart, Australia’s richest woman, has muscled in on one of the largest battery-metals deals to date, building a near-17% stake in Liontown Resources Ltd. and threatening its A$6.6 billion ($4.2 billion) takeover by US giant Albemarle Corp. Most Read from BloombergIsrael Latest: Scores of Civilians, Soldiers Kidnapped by HamasHamas Attack Prompts Blame Around Israeli IntelligenceBiden Says Israel Under Terrorist Attack, Pledges US SupportShock Incursion on Weakened Israel I
Gina Rinehart, the richest woman in Australia, has acquired a nearly 17% stake in Liontown Resources, threatening its takeover by Albemarle Corp. Rinehart's move is seen as a bet on the surging long-term demand for lithium amid the energy transition. However, Rinehart has not yet revealed her plans for the lithium miner, leaving shareholders with more questions than answers.
Mining is one of those segments in the overall economy that continue to gain investors’ attention. Amid growing production and growth around the world, mining companies remain on everyone’s radar.
Lithium mining is dominated by small and mid-sized firms in Australia, and the sector’s shares offer some of the most volatile returns on the market.