The richest woman in Australia, who is worth more than $30 billion, could be eyeing a move to buy a significant chunk of Wyoming’s rare earths deposits, and has even made a play in the related lithium field.
A consolidation of Wyoming’s rare earths strategic minerals industry might be right around the corner. While nobody’s saying anything for sure, regulatory filings across the globe seem to hint something may be brewing.
The rare earth minerals bonanza is the result of consumers starved for magnet metals integral to the green transition to electric vehicles, wind turbines, consumer goods, robots and military drones, missiles and chips needed for sophisticated computing power.
Earlier this month, the consolidation possibilities were sparked when Australian billionaire Gina Rinehart’s Hancock Prospecting Pty Ltd took a 5.3% stake in U.S. rare-earths producer MP Materials Corp. in Las Vegas. The stake represents about 8.8 million shares of MP’s 178 million outstanding shares.
Rinehart’s move is significant to Wyoming because the mining magnate with a fortune of more than $30 billion and the richest person in Australia, seems to be clearly making a move to consolidate rare earths, and has even made a play in the related lithium field.
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