Gina Rinehart Increases Stake in Arafura Rare Earths
Gina Rinehart will cornerstone Arafura Rare Earths' $525 million capital raise, solidifying her position in the critical minerals alliance between Australia and the United States.
Her company, Hancock Prospecting, will take up $125m of the $475m share placement, increasing her stake in Arafura from 9.4% to 15.7%.
- The entire equity raise will be at 28¢ per share, a 26% discount to Arafura's last closing price.
- The share purchase plan aims to raise $50m.
Rinehart is a major investor in several ASX-listed rare earth companies, including Lynas Rare Earths, St George Mining, and Brazilian Rare Earths, as well as a significant shareholder in the US' main rare earths producer, MP Materials.
Australia's richest person is a key player in the critical minerals alliance being forged by Australia and the United States.
Arafura joins other rare earth hopefuls and producers in recent capital raises.
Author's summary: Rinehart boosts stake in Arafura Rare Earths via $525m capital raise.
More News
- Real Vampires gives you a taste (or a bite) of authentic Slavic vampire folklore, coming soon this Halloween
- Angry Birds 2's Space event is now live, introducing gravity bending puzzles for a limited time
- Pennridge special education students enjoy inclusive fall fun at Tabora Farms | NorthPennNow
- The Battle of Polytopia hits 25 million downloads
- The FDA Withholds Names of Drugs Made in Contaminated Factories
- Grokipedia launches after brief crash, accused of copying Wikipedia content - Tech Digest
- The Battle of Polytopia surpasses 25m downloads on mobile
- CNN rolls out $6.99 ‘All Access’ streaming tier in the US
- In Review: Big-Ass Sword by Andreas Butzbach
- Elon Musk’s Unveils Grokipedia - IT News Africa | Business Technology, Telecoms and Startup News