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CleanTech Lithium (AIM:CTL,FWB:T2N,OTC:CTLHF)) envisions being the greenest lithium supplier to the electric vehicle (EV) market by using direct lithium extraction (DLE) - a low-impact, low-carbon and low-water method of extracting lithium from brine – powered by renewable energy sources. The company has three large lithium assets with an estimated two million tonnes of lithium carbonate equivalent (LCE) in Chile’s Lithium Triangle, a world-renowned mining-friendly jurisdiction.
The company’s assets are all located in Chile and amenable to eco-friendly development. Laguna Verde, CleanTech’s flagship asset, is poised for near-term green lithium production by the end of 2025 with a resource estimate of 1.5 million tonnes of LCE. The company’s second flagship asset is Francisco Basin, approximately 100 km south of Laguna Verde. JORC-compliant inferred resource estimated 0.5 million tonnes of LCE. Both projects are 4,200+ meters above sea level, meaning there is minimal risk to biodiversity and impact on local communities. The company's third asset is the Llamara Project, a green-fields project located in the Antofagasta region and is around 600 km north of Laguna Verde and Francisco Basin. The area totalling 344 square kilometers located in the Pampa del Tamarugal basin, which is one of the largest basins in the lithium triangle.
CleanTech Lithium is committed to an ESG-led approach and supporting its downstream partners by producing the greenest lithium to the market. As a result, the company will use renewable energy and the eco-friendly direct lithium extraction (DLE) process throughout its projects. DLE is widely considered the best option for lithium brine extraction that makes the least environmental impact. No evaporation ponds, no carbon intensive processes and reduced levels of water consumption. In recognition, Chile’s government plans to prioritize DLE for all new lithium projects.
Company Highlights
- CleanTech Lithium is an exploration and development company with three notable lithium projects in Chile, totaling >500km2 licensed areas and lithium resources exceeding 2 million tonnes LCE
- The company aims to become the greenest lithium supplier to the EV market by adopting environmental and social sound practices throughout its assets and culture.
- Chile is quickly becoming a global leader in clean energy, which enables the company to take advantage of the existing renewable power throughout its operations
- The company will use DLE, a proven* method for extracting lithium brine that minimizes environmental impact and reduces production time, resulting in high quality battery grade lithium
- CleanTech Lithium’s flagship projects Laguna Verde and Francisco Basin are located nearby reliable renewable power sources and transport infrastructure that can support the scalability of each project.
- The company’s third highly prospective asset, Llamara, is undergoing exploration and represents blue-sky opportunities for additional lithium discoveries.
- This is being led by an experienced management team with the right blend of expertise leads the company towards its goals of supplying the growing EV market with eco-friendly lithium,
- Underpinned by an established ESG-led approach - a critical priority for governments introducing regulations that require a cleaner supply chain to reach net-zero targets.
- DLE plants operating successfully in Argentina and China
This CleanTech Lithium profile is part of a paid investor education campaign.*
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CleanTech Lithium
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Executing a well-defined project development strategy for its lithium assets and advancing Direct Lithium Extraction (DLE), CleanTech Lithium is poised to become a key player in an expanding batteries market.
Overview
CleanTech Lithium (AIM:CTL,FWB:T2N) is a resource exploration and development company with four lithium assets with an estimated 2.72 million tons (Mt) of lithium carbonate equivalent (LCE) in Chile, a world-renowned mining-friendly jurisdiction. The company aims to be a leading supplier of ‘green lithium’ to the electric vehicle (EV) market, leveraging direct lithium extraction (DLE) – a low-impact, low-carbon and low-water method of extracting lithium from brine.
Lithium demand is soaring as a result of a rapidly expanding EV market. One study estimates the world needs 2 billion EVs on the road to meet global net-zero goals. Yet, the gap between supply and demand continues to widen. As the world races to secure new supplies of critical minerals, Chile has emerged as an ideal investment jurisdiction with mining-friendly regulations and a skilled local workforce to drive towards a clean green economy. Chile is already the biggest supplier of copper and second largest supplier of lithium.
With an experienced team in natural resources, CleanTech Lithium holds itself accountable to a responsible ESG-led approach, a critical advantage for governments and major car manufacturers looking to secure a cleaner supply chain.
Laguna Verde is at pre-feasibility study stage targeted to be in ramp-up production from 2027. Laguna Verde has a JORC resource estimate of 1.8 Mt of lithium carbonate equivalent (LCE) while Viento Andino boasts 0.92 Mt LCE, each supporting 20,000 tons per annum (tpa) production with a 30-year and 12-year mine life, respectively. The latest drilling programme at Laguna Verde finished in June 2024, results from which will be used to convert resources into reserves.
The lead project, Laguna Verde, will be developed first, after which Veinto Andino will follow suit using the design and experience gained from Laguna Verde, as the company works towards its goal of becoming a significant green lithium producer serving the EV market.
The company is carrying out the necessary environmental impact assessments in partnership with the local communities. The indigenous communities will provide valuable data that will be included in the assessments. The Company has signed agreements with the three of core communities to support the project development.
DLE Pilot Plant Inauguration event held in May 2024 with local stakeholders and indigenous communities in attendance
The company also has two prospective exploration assets - the Llamara project and Salar de Atacama/Arenas Blancas project. Llamara project is a greenfield asset in the Antofagasta region and is around 600 kilometers north of Laguna Verde and Veinto Andino. The project is located in the Pampa del Tamarugal basin, one of the largest basins in the Lithium Triangle.
Salar de Atacama/Arenas Blancas comprises 140 licenses covering 377 sq km in the Salar de Atacama basin, one of the leading lithium-producing regions in the world with proven mineable deposits of 9.2 Mt.
CleanTech Lithium is committed to an ESG-led approach to its strategy and supporting its downstream partners looking to secure a cleaner supply chain. In line with this, the company plans to use renewable energy and the eco-friendly DLE process across its projects. DLE is considered an efficient option for lithium brine extraction that makes the least environmental impact, with no use of evaporation ponds, no carbon-intensive processes and reduced levels of water consumption. In recognition, Chile’s government plans to prioritize DLE for all new lithium projects in the country.
CleanTech Lithium’s pilot DLE plant in Copiapó was commissioned in the first quarter of 2024. To date, the company has completed the first stage of production from the DLE pilot plant producing an initial volume of 88 cubic metres of concentrated eluate – the lithium carbonate equivalent (LCE) of approximately one tonne over an operating period of 384 hours with 14 cycles. Results show the DLE adsorbent achieved a lithium recovery rate of approximately 95 percent from the brine, with total recovery (adsorption plus desorption) achieving approximately 88 percent. The Company’s downstream conversion process is successfully producing pilot-scale samples of lithium carbonate . As of January 2025, the Company is producing lithium carbonate from Laguna Verde concentrated eluate at the downstream pilot plant - recently proven to be high purity (99.78 percent). Click for highlights video.
CTL’s experienced management team, with expertise throughout the natural resources industry, leads the company toward its goal of producing green lithium for the EV market. Expertise includes geology, lithium extraction engineering and corporate administration.
Company Highlights
- CleanTech Lithium is a lithium exploration and development company with four notable lithium projects in Chile and a combined total resource of 2.72 million tonnes JORC estimate of lithium carbonate equivalent.
- Chile is one of the biggest producers of lithium carbonate in the world and the Chilean Government has prioritized innovative technologies such as DLE for new project development
- The Company leverages DLE, an efficient method for extracting lithium brine that aims to minimize environmental impact, reduce production time and costs, resulting in high-purity, battery-grade lithium carbonate
- The Company is targeting a dual-listing on the ASX in Q1 2025.
- CleanTech Lithium’s flagship project, Laguna Verde is at the Pre-Feasibility Stage, once completed, the Company looks to start substantive conversations with strategic partners.
- The Company has an operational DLE pilot plant in Copiapó, Chile producing an initial volume of 88 cubic meters of concentrated eluate, which is the lithium carbonate equivalent (LCE) of approx. one tonne, proving the Company’s capacity to produce battery-grade lithium with low impurities from its Laguna Verde brine project.
- In January 2025, the Company announced to the market the production of high purity lithium carbonate (99.78%)
- The Board consists of the former CEO of Collahuasi, the largest copper mine in the world, having held senior roles at Rio Tinto and BHP. In-country experience developing major commercial projects runs throughout the team.
- CleanTech Lithium’s operations are underpinned by an established ESG-focused approach - a critical priority for governments introducing regulations that require a cleaner supply chain to reach net-zero targets.
Key Projects
Laguna Verde Lithium Project
The 217 sq km Laguna Verde project features a sq km hypersaline lake at the low point of the basin with a large sub-surface aquifer ideal for DLE. Laguna Verde is the company’s most advanced asset.
Project Highlights:
- Prolific JORC-compliant Resource Estimate: As of July 2023, the asset has a JORC-compliant resource estimate of 1.8 Mt of LCE at a grade of 200 mg/L lithium.
- Environmentally Friendly Extraction: The company’s asset is amenable to DLE. Instead of sending lithium brine to evaporation ponds, DLE uses a unique process where resin extracts lithium from brine, and then re-injects the brine back into the aquifer, with minimal depletion of the resources. The DLE process reduces the impact on environment, water consumption levels and production time compared with evaporation ponds and hard-rock mining methods.
- DLE Pilot Plant: The pilot DLE plant in Copiapó, commissioned in the first quarter of 2024, has produced an initial volume of 88 cubic metres of concentrated eluate, which is the lithium carbonate equivalent (LCE) of approximately one tonne further confirming the company’s capacity to produce battery-grade lithium with low impurities from its Laguna Verde brine project.
- Scoping Study: Scoping study completed in January 2023 indicated a production of 20,000 tons per annum LCE and an operational life of 30 years. Highlights of the study also includes:
- Total revenues of US$6.3 billion
- IRR of 45.1 percent and post-tax NPV8 of US$1.8 billion
- Net cash flow of US$215 million
Viento Andino Lithium Project
CleanTech Lithium’s second-most advanced asset covers 127 square kilometers and is located within 100 km of Laguna Verde, with a current resource estimate of 0.92 Mt of LCE, including an indicated resource of 0.44 Mt LCE. The company’s planned second drill campaign aims to extend known deposits further.
Project Highlights:
- 2022 Lithium Discovery: Recently completed brine samples from the initial drill campaign indicate an average lithium grade of 305 mg/L.
- JORC-compliant Estimate: The inferred resource estimate was recently upgraded from 0.5 Mt to 0.92 Mt of LCE at an average grade of 207 mg/L lithium, which now includes 0.44 million tonnes at an average grade of 221 mg/L lithium in the indicated category.
- Scoping Study: A scoping study was completed in September 2023 indicating a production of up to 20,000 tons per annum LCE for an operational life of more than 12 years. Other highlights include:
- Net revenues of US$2.5 billion
- IRR of 43.5 percent and post-tax NPV 8 of US$1.1 billion
- Additional Drilling: Once drilling at Laguna Verde is completed in 2024, CleanTech Lithium plans to commence further drilling at Viento Andino for a potential resource upgrade.
Llamara Lithium Project
The Llamara project is one of the largest greenfield basins in the Lithium Triangle, covering 605 square kilometers in the Pampa del Tamarugal, one of the largest basins in the Lithium Triangle. Historical exploration results indicate blue-sky potential, prompting the company to pursue additional exploration.
Project Highlights:
- Promising Historical Exploration: The asset has never been drilled; however, salt crust surface samples indicate up to 3,100 parts per million lithium. Additionally, historical geophysics lines indicate a large hypersaline aquifer. Both of these exploration results indicate potential for significant future discoveries.
- Close Proximity to Existing Operations: The Llamara project is near other known deposits:
Arenas Blancas
The project comprises 140 licences covering 377 sq km in the Salar de Atacama basin, a known lithium region with proven mineable deposits of 9.2 Mt and home to two of the world’s leading battery-grade lithium producers SQM and Albermarle. Following the granting of the exploration licences in 2024, the Cleantech Lithium is designing a work programme for the project
The Board
Steve Kesler - Executive Chairman
Steve Kesler has 45 years of executive and board roles experience in the mining sector across all major capital markets including AIM. Direct lithium experience as CEO/director of European Lithium and Chile experience with Escondida and as the first CEO of Collahuasi, previously held senior roles at Rio Tinto and BHP.
Ignacio Mehech – CEO and Director
Ignacio Mehech brings over a decade of senior leadership experience in the lithium and mining sectors. During his seven-year tenure at Albemarle—the world’s largest producer of battery-grade lithium—he spent the last three years as Country Manager in Chile, overseeing a workforce of 1,100 and managing critical relationships with government, indigenous communities, and other key stakeholders. Mehech brings deep expertise in lithium project development, regulatory engagement, and sustainability. He has led high-profile engagements with global investors, customers, NGOs, analysts, scientists, and international governments. He also played a key leadership role in the El Abra copper operation—a joint venture between Codelco and Freeport-McMoRan—where he led the legal strategy and contributed to corporate transformation initiatives. Mehech holds a law degree from the Universidad de Chile and a Master’s in Energy and Resources Law from the University of Melbourne.
Gordon Stein - Chief Financial Officer
Gordon Stein is a commercial CFO with over 30 years of expertise in the energy, natural resources and other sectors in both executive and non-executive director roles. As a chartered accountant, he has worked with start-ups to major companies, including board roles of six LSE companies.
Maha Daoudi - Independent Non-executive Director
Maha Daoudi has more than 20 years of experience holding several Board and senior-level positions across commodities, energy transition, finance and tech-related industries, including a senior role with leading commodity trader, Trafigura. Daoudi holds expertise in offtake agreements, developing international alliances and forming strategic partnerships.
Tommy McKeith - Independent Non-executive Director
Tommy McKeith is an experienced public company director and geologist with over 30 years of mining company leadership, corporate development, project development and exploration experience. He's held roles in an international mining company and across several ASX-listed mining companies. McKeith currently serves as non-executive director of Evolution Mining and as non-executive chairman of Arrow Minerals. Having worked in bulk, base and precious metals across numerous jurisdictions, including operations in Canada, Africa, South America and Australia, McKeith brings strategic insights to CTL with a strong focus on value creation.
Jonathan Morley-Kirk - Senior Independent Non-executive Director
Jonathan Morley-Kirk brings 30 years of experience, including 17 years in non-executive director roles with expertise in financial controls, audit, remuneration, capital raisings and taxation/structuring.
Premium lithium projects located in established mining districts to meet battery and EV demand
Market Pain, Strategic Gain: Pilbara Minerals' Dale Henderson on Today's Lithium Paradox
Lithium's strong long-term fundamentals
Henderson began by going over key numbers relevant to the lithium sector. According to the CEO, there was a 26 percent year-on-year increase in demand for electric vehicles (EVs) from 2023 to 2024.
Lithium plays a vital role in the production of EVs, as it is a key component of the batteries that power them.
Alongside that EV demand increase, mass energy storage also saw a 51 percent leap.
“I don’t think there’ll be any deniers around the long-term prospects of lithium, but it's worth reflecting on how quickly it’s changing," Henderson told the Fastmarkets audience.
Henderson speaks on stage at the Fastmarkets event.
Image via Georgia Williams.
Looking at areas connected to lithium, Henderson mentioned solar, saying it now surpasses all power-generation technology investment combined. Solar falls under the clean energy umbrella, which receives more than $2.2 trillion in investment per year — twice the amount of investment made in fossil fuels.
“We are witnessing and (are) part of an incredible period. Technology, policy (and) consumer sentiment can continue to drive what is a structural shift towards electrification," he said. "Lithium remains at the center of this shift."
The paradox, according to Henderson, is that while scaling up is happening, prices have been cycling down.
“We’re 12 months into a period of curtailments and reset. And where we are now — we sit deep into the cost curve with price levels, of course, at unsustainable levels for many operators," he noted.
"But these cycles, or these resets, offer a fantastic reset for market, albeit they're painful.”
The Pilbara CEO emphasized that while lithium prices have fallen to “clearly unsustainable” levels, the long-term demand and strategic relevance of lithium will survive it.
“This is not a short-term trend. This is a structural transformation, and lithium remains at core.”
Pilbara Minerals' lithium strategy
Looking over to Pilbara Minerals, Henderson went over its recent achievements and future plans.
“We’re keeping our lives absolutely committed to our strategy,” he said about the company, adding that the past year was Pilbara Minerals' “most transformational year for business.”
Highlights from the period include the acquisition of Latin Resources and its flagship Salinas lithium project in Brazil, which was announced in August 2024 and closed this past February.
The CEO also discussed the company’s flagship Pilgangoora operation, which he described as a globally significant tier-one lithium asset with a mine life of 33 years. Pilgangoora is located 140 kilometers from Port Hedland in Western Australia and is one of the world’s largest hard-rock lithium operations.
Pilbara Minerals has completed two expansions, including the buildout of the world’s largest hard-rock ore-sorting plant, which aims to improve lithium recovery, increase final product quality and reduce energy consumption.
In addition to that, Henderson said Pilbara Minerals boosted its reserves by 23 percent last year.
Furthermore, the company became a lithium hydroxide producer via its partnership with POSCO Holdings (NYSE:PKX,KRX:005490), and is working on a demonstration plant for its midstream project.
In January, the Western Australian government’s Investment Attraction Fund contributed AU$15 million for work at the plant, which is a joint venture with Calix (NYSE:CALX,ASX:CXL).
Henderson said the demonstration plant is currently under construction.
Last year, Pilbara Minerals contributed approximately 8 percent to global lithium supply. The company’s cash balance currently stands at AU$1.1 billion.
Lithium industry must align for success
According to Henderson, certainty and efficient operations are everything in today’s lithium market.
“Government policy is forcing change, both in sticks and carrots, and supply chain diversification is underway, but largely the processing remains very much concentrated," he said.
Henderson highlighted coordination and collaboration as key points, saying that thriving in this environment means building deeper integration across the supply chain.
Lithium industry challenges and opportunities.
Chart via Pilbara Minerals.
He added that the lithium industry is not the first sector to grow from a small base and has yet to mature on a number of dimensions. Henderson summarized his key recommendations into four points:
- Support a central and efficient spot market trading location
- Put a trusted futures exchange in place
- Align on specifications across the lithium product site
- Align on standardized trading terms
He also presented a list of challenges and corresponding opportunities regarding the lithium market, saying that while there’s a lot of pain in the industry, it's also the time for great partnerships to be forged.
“This industry will evolve with or without our stewardship. This is a call to leadership across our group,” he concluded. “The challenge is ours. The opportunity is real. Let's build it together and turn this market pain into a strategic avenue.”
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Inside Billionaire Gina Rinehart's Key Mining Investments
In addition to Arafura, entrepreneur Rinehart’s investment portfolio contains other ex-China, green-transition-focused companies like Australian lithium firm Liontown Resources (ASX:LTR,OTC Pink:LINRF), as well as rare earths producers MP Materials (NYSE:MP) and Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF). Rinehart’s role in the acquisition of Azure Minerals’ Andover lithium project in Western Australia alongside lithium giant SQM (NYSE:SQM) also made headlines.
In this article
- Who is Gina Rinehart?
- How did Gina Rinehart get rich?
- What mining companies does Gina Rinehart own?
- Where does Hancock Prospecting mine iron?
- Gina Rinehart’s iron ore investments
- Gina Rinehart’s lithium investments
- Gina Rinehart’s rare earths investments
- Gina Rinehart’s copper investments
- Gina Rinehart’s oil and gas investments
- Gina Rinehart’s potash and agriculture investments
- FAQs for Gina Rinehart
Who is Gina Rinehart?
Gina Rinehart is an Australian iron ore magnate and the executive chair of Hancock Prospecting, as well as the richest person in Australia and one of the world’s richest women. Rinehart is the daughter of Australian mining mogul and Hancock Prospecting founder, the late Lang Hancock. As the current executive chair of Hancock Prospecting, Rinehart won the inaugural Lifetime Achievement Award from CEO Magazine in 2019.
Rinehart was appointed as an Officer of the Order of Australia in 2022 for her “distinguished service to the mining sector, to the community through philanthropic initiatives, and to sport as a patron.”
How did Gina Rinehart get rich?
Gina Rinehart's Hancock Prospecting acquired the Roy Hill tenements in 1993. Centering the massive project as the cornerstone of the company, Hancock Prospecting has greatly benefited from the iron ore market boom that began in the early 2000s.
Today, Roy Hill is Australia’s largest iron ore mine, producing 60 million to 70 million tonnes of iron ore per year. Success at Roy Hill has made Hancock Prospecting Australia’s most valuable private company at an estimated AU$15.6 billion.
As with many of the world’s most successful billionaires, Gina Rinehart has developed an investment strategy based on strategic partnerships as well as diversification to mitigate risk and build value. Under her leadership, Hancock Prospecting Pty Limited (HPPL) as well as the HPPL Group of companies has expanded into some of the world’s most economically important markets, such as real estate, agriculture, energy and critical metals.
For the 2024 fiscal year, Rinehart's Hancock Prospecting reported a bumper profit of AU$5.6 billion, up 10 percent from the previous year.
What mining companies does Gina Rinehart own?
Through her company Hancock Prospecting, Gina Rinehart owns interest in mining companies across many sectors, including iron ore, lithium, rare earths, copper, oil and gas, as well as potash.
While much of her investment portfolio is focused on Australia and ASX companies, Rinehart is actively strengthening the geographical diversification of her investments.
In recent years, Rinehart has made a series of key investments in mining companies, especially targeting critical metals projects in Germany, Brazil, Ecuador and the United States. These include exploration-stage firms such as Titan Minerals (ASX:TTM) and Azure Minerals as well as producers such as Atlas Iron and MP Materials.
Where does Hancock Prospecting mine iron?
Vehicles hauling ore at Roy Hill iron ore mine.
Photo of Roy Hill iron ore mine via Roy Hill.
Hancock Prospecting’s Roy Hill and Hope Downs iron ore mines are in Western Australia's resource-rich Pilbara region.
Roy Hill has attracted strategic partnerships with major global enterprises: Marubeni (TSE:8002) has a 15 percent equity stake, POSCO Holdings (NYSE:PKX,KRX:005490) has a 12.5 percent stake and China Steel (TPE:2002) has a 2.5 percent stake. The minority partners purchase a combined 28.75 million tonnes of iron ore annually from Roy Hill’s production.
In September 2024, Hancock Prospecting got the green light for its AU$600 million McPhee iron mine located about 100 kilometres north of the Roy Hill mine after a long approval process.
The McPhee iron mine is expected to produce around 10 million tonnes of the metal each year over an estimated 15 year mine life. First production is expected to kick off next year, and ore will be transported by road trains to Roy Hill for processing and blending. The goal is to improve the larger mine's product mix and sustain its production volumes.
The Hope Downs iron ore complex is another of Australia’s largest iron ore projects. A 50/50 joint venture partnership with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), Hope Downs hosts four open-pit mines and has an annual production capacity of 47 million tonnes. Hope Downs has also been the subject of a more than decade-long civil dispute in a Western Australian court over royalties, put forth by the descendants of Lang Hancock's business partner Peter Wright as well as Rinehart’s own children.
In June 2025, the partners announced a combined investment of US$1.6 billion to develop the Hope Downs 2 iron ore project, a part of the main JV. The project hosts the Hope Downs 2 and Bedded Hilltop deposits, which together will have a total annual production capacity of 31 million tonnes.
Gina Rinehart’s iron ore investments
Gina Rinehart’s iron ore investments in Western Australia extend beyond Roy Hill and Hill Downs to Atlas Iron’s three producing mines and a pipeline of development projects.
Rinehart’s Hancock Prospecting acquired Atlas Iron in 2018 through a AU$427 million deal that turned out to be dirt cheap as the company would go on to deliver AU$1.5 billion in revenues over the next three years alone.
Today, Atlas Mines operates the Mount Webber, Sanjiv Ridge and Miralga Creek mines. Production from these mines in its fiscal year ended June 2023 led to a AU$222 million dividend payment for Rinehart’s Hancock Prospecting.
As of July 1, 2025, Hancock Prospecting has consolidated its Roy Hill and Atlas Iron under the new name Hancock Iron Ore. The new entity represents combined iron ore exports of about 74 million tonnes per year.
Additionally, Hancock has an earn-in agreement on Legacy Iron Ore (ASX:LCY) and Hawthorn Resources’ (ASX:HAW) Mount Bevan project through its subsidiary Hancock Magnetite Holdings.
At Mount Bevan, as part of its earn-in agreement, Hancock completed a prefeasibility study (PFS) for a 12 million tonne per year high-grade magnetite project in July 2024. The PFS incorporates a resource estimate totalling 1,291 million tonnes, which was completed by Atlas, and delineates a capital cost of AU$5 billion to develop Mount Bevan.
Completion of the PFS increased Hancock’s stake in the joint venture from 30 percent to 51 percent, with Legacy now holding 29.4 percent and Hawthorn holding 19.6 percent.
Like iron, coal is another essential material in steel manufacturing. To this end, Rinehart is also pursuing an investment in a past-producing metallurgical coal mine in Alberta, Canada. Hancock Prospecting subsidiary Northback Holdings is the owner of the proposed Grassy Mountain steelmaking coal project in the province’s Crowsnest Pass region.
Exploration licences for the Northback project were greenlit by Alberta regulators in May 2025.
Gina Rinehart’s lithium investments
Gina Rinehart's lithium investments include Azure Minerals’ (ASX:AZS) Andover lithium project, Liontown Resources, Delta Lithium (ASX:DLI) and Vulcan Energy Resources (ASX:VUL).
The majority of her lithium investments came in a flurry in 2023 and 2024.
In June 2023, Rinehart’s Hancock Prospecting signed a separate joint venture earn-in agreement for the Mount Bevan magnetite project discussed above, this time for the lithium, nickel and copper mineralization at the project. The agreement will similarly see Hancock able to earn a 51 percent interest by completing certain milestones.
In September 2023, Rinehart made headlines when she took a position in Liontown Resources and then rapidly increased the position to 19.9 percent over the following month. This allowed Hancock, which was now Liontown's largest shareholder, to effectively block Albemarle’s (NYSE:ALB) accepted takeover of the smaller lithium company.
However, Liontown took a hit as the economics for its near-production Kathleen Valley lithium project in Western Australia were affected by high inflation and low lithium prices. In January 2024, Albemarle decided to sell off its 4 percent stake in Liontown. The lack of any further moves or comment by Rinehart in relation to Liontown Resources has led to speculation she may be waiting for the right opportunity to buy up the lithium company at a discount.
Kathleen Valley entered open-pit production in late July 2024, and is expected to produce approximately 500,000 tonnes per year of spodumene concentrate per year. In April of this year, the operation became Australia's first underground lithium mine when it commenced production from its Mount Mann deposit. Liontown plans to fully transition production to the underground mine in its fiscal 2026.
Albemarle's Liontown acquistion wasn't the only lithium bid Rinehart blocked in October 2023. As is her strategy, Rinehart scooped up an 18.9 percent stake in Azure Minerals after SQM announced its intention for a total takeover of the company and its Andover lithium project in the West Pilbara region of Western Australia.
This story had a different ending, though, as Hancock Prospecting instead joined the lithium giant in a AU$1.7 billion deal to become a co-owner of the exploration-stage Andover project. The deal closed in May 2024.
Shortly after its Liontown and Azure moves, Hancock Prospecting continued investing in Western Australia's lithium prospects when it participated in a AU$70.2 million fundraising for Delta Lithium in November 2023. The proceeds will help Delta Lithium to fund the development of its Mount Ida lithium-gold project, which is adjacent to Hancock's Mount Bevan joint venture project. As of November 2024, Hancock Prospecting owns 10.65 percent of Delta Lithium.
Rinehart has made lithium investments outside of Australia as well. Looking further afield to Germany, with a 7.5 percent stake, Hancock Prospecting is the second largest shareholder in Vulcan Energy and its flagship Zero Carbon lithium project in Germany’s Upper Rhine Valley, a milestone Rinehart's company reached after investing an additional AU$20 million in Vulcan, which made headlines in June 2024. The Zero Carbon project is slated to produce an initial 24,000 tonnes of lithium hydroxide by the end of 2025, targeting Europe’s electric vehicle manufacturing sector.
In November 2024, Vulcan Energy reached another major milestone with first production at its downstream lithium hydroxide optimisation plant, which is designed to produce lithium hydroxide and battery-grade lithium hydroxide monohydrate. In May 2025, Vulcan commenced drilling on its first new geothermal energy-lithium well in Landau, Germany, as part of its Phase 1 Lionheart project. The site currently holds four production and re-injection wells and the company aims to add 24 more that will produce hot lithium brine. Vulcan plans to use the new production to increase its geothermal energy production and begin commercial lithium production.
Gina Rinehart’s rare earth metals investments
Facilities at MP Materials' Mountain Pass rare earths mine.
clayton harrison / Shutterstock
Through Hancock Prospecting, Gina Rinehart has made investments in some of the world’s most well known rare earth mineral producing companies — US-based MP Materials and Australia’s Lynas Rare Earths — as well as development-stage Arafura Rare Earths and exploration-stage Brazilian Rare Earths (ASX:BRE). Rinehart taking a position in these rare earths companies shows she is looking to capitalise on the significant need for these critical metals outside of China.
As mentioned in the introduction to this article, Rinehart’s Hancock Prospecting is the largest shareholder of Arafura Rare Earths, giving it a 10 percent stake in the advanced-stage Nolans project in the Northern Territory, Australia. Rinehart made the investment in December 2022.
In April 2024, Rinehart made two significant moves into the sector. The first came on April 9, when it was revealed that Hancock Prospecting had acquired a 5.3 percent stake in MP Materials, the second largest rare earths producer outside of China. The company’s California-based Mountain Pass mine is the only integrated rare earth mining and processing operation in North America.
Rinehart’s investment in MP Materials could later bring in “Roy Hill-type cash flow,” Dylan Kelly, head analyst at Terra Capital, told Australian Financial Review. “Anything that is producing and not China-aligned is highly strategic. These materials are very, very hard to make and there’s a lot of demand in making magnets for electric vehicles and wind turbines."
One week later, Rinehart’s Hancock Prospecting also took up a 5.82 percent interest in Lynas Rare Earths, the largest ex-China rare earths producer. The Australian rare earths miner produces the critical metals at its Mount Weld mine in Western Australia and ships the raw material to Malaysia for processing. Lynas is also ramping up processing at its Kalgoorlie rare earth processing facility in Australia, and building light rare earths processing facilities and a heavy rare earths separation facility in Texas, US.
Rinehart’s near simultaneous investments in both Lynas and MP Materials comes after merger talks between the two rare earths behemoths stalled in February 2024. There was speculation stirring that Rinehart’s participation could renew merger discussions, Reuters reported.
In November 2024, the mining mogul increased her position in MP Materials to 8.5 percent, further raising the possibility of a merger down the road. As for Lynas, she raised her stake to 7.14 percent in July 2024 and then 8.21 percent in January 2025.
Rinehart is also getting her foot in the rare earths door at the exploration level. In 2023, Rinehart’s Hancock Prospecting made a pre-IPO investment for a 5.85 percent share in Brazilian Rare Earths, which went on to list on the ASX in December of that year. The rare earth explorer is working its district-scale Rocha da Rocha rare earth asset in the state of Bahia, Brazil. The province is highly prospective for both heavy and light rare earths, with grades of over 40 percent total rare earth oxides found. Brazilian Rare Earths is working to complete an updated JORC mineral resource estimate.
Gina Rinehart’s copper investments
Gina Rinehart’s copper investments are centered on Ecuador’s Andean copper-gold belt, and include explorer Titan Minerals and Ecuador's state-owned Empresa Nacional Minera (ENAMI).
Ecuador has seen a rush of major mining companies taking up positions in key copper and gold projects in recent years, placing Hancock Prospecting in the company of Barrick Mining (TSX:ABX,NYSE:B), Zijin Mining (HKEX:2899) and Anglo American (LSE:AAL,OTCQX:AAUKF).
Rinehart’s Ecuadorian copper investments are in line with her shift toward the critical metals necessary for the green transition and her strategy to expand the global footprint of her mining empire.
Hancock Prospecting subsidiary Hanrine Ecuadorian Exploration and Mining has been in the region since 2017, and has continued to make more investments. In March 2024, Hancock Prospecting subsidiary Hanrine Ecuadorian Exploration and Mining acquired a 49 percent stake in six mining concessions for AU$186.4 million. The deal sees it partner with state mining company ENAMI for the concessions, which surround the stalled Llurimagua copper-molybdenum project in Northern Ecuador.
In late April 2024, Ecuador’s constitutional court nixed appeals by ENAMI and its partner in the Llurimagua project, Chile’s state-owned CODELCO, to review the March 2023 decision by Imbabura’s provincial supreme court suspending the environmental licence for Llurimagua.
Shortly after the investment with ENAMI, Rinehart's Hanrine made another play in Ecuador by striking an earn-in agreement with Titan Minerals for up to an 80 percent ownership stake in the explorer’s Linderos copper-gold project contingent on up to AU$120 million in exploration spending. Linderos is an early-exploration stage project with the potential to host a large-scale copper porphyry system. Hanrine has made an initial investment of AU$2 million for a 5 percent stake.
Gina Rinehart’s oil and gas investments
Gina Rinehart’s oil and gas investments include private firms Warrego Energy in Western Australia and Senex Energy in Queensland.
In February 2023, Hancock Prospecting won a protracted bidding war for the then-public Warrego with Warrego's joint venture partner Strike Energy (ASX:STX) at a price of AU$0.36 per share. Warrego and operator Strike Energy maintain their 50/50 joint venture on the West Erregulla onshore gas field within exploration permit EP 469 near Perth in Western Australia.
In mid-August 2024, the West Erregulla project received its production licence. During Phase 1, the project is expected to produce 87 terajoules per day.
As for Senex Energy, it is a joint venture between POSCO (50.1 percent) and Hancock Prospecting subsidiary Hancock Energy (49.9 percent) that holds the Atlas and Roma North natural gas developments in Queensland’s Surat Basin. The two JV partners acquired Senex in 2022, with Rinehart’s company putting up AU$440.89 million.
Senex Energy has embarked on a AU$1 billion expansion endeavor at Atlas and Roma North that will see 60 petajoules of natural gas delivered to Australia’s east coast market annually by the end of 2025. This figure represents more than 10 percent of the region’s demand. Regulatory approval for the expansion was finally received following an uphill battle with a Federal government more interested in renewable energy projects than the natural gas variety. Hancock Prospecting reported the first flows of gas production from the expansion field in late November 2024.
Rinehart once had a significant stake of nearly 20 percent in Lakes Oil, now Lakes Blue Energy (ASX:LKO), through subsidiary Timeview Enterprises. Timeview's stake in Lakes Blue Energy has been lowered in recent years, but it remains the company's fourth largest shareholder at 4.63 percent.
In late October 2024, Rinehart offered financial assistance to Mineral Resources (ASX:MIN,OTC Pink:MALRF), a diversified mining company with lithium, iron ore and oil and gas operations in Western Australia. Headed by another mining heavyweight, Chris Ellison, Mineral Resources (MinRes) is reportedly drowning in debt and embroiled in a tax evasion investigation. At that time, Hancock Prospecting agreed to a AU$1.13 billion buyout of MinRes' oil and gas projects in the Perth Basin and an exploration acreage in the Carnarvon Basin.
The 100 percent sale of two of MinRes' exploration permits to Hancock was completed in December 2024 for initial consideration of AU$780 million, with potential for up to AU$327 million depending on whether certain conditions and thresholds are met. The permits include the Moriarty Deep prospect and the Lockyer gas and Erregulla oil discoveries.
Separate to that sale, the two companies are also forming two 50/50 exploration joint ventures for MinRes' remaining permits in the Perth and Carnarvon Basins. Hancock will acquire 50 percent of the MinRes Explorer drill rig, which is the largest in Australia.
Gina Rinehart’s potash and agriculture investments
Gina Rinehart’s potash and agricultural investments center on Hancock Prospecting’s ownership interests in multiple premium cattle stations in Australia, and the company's royalty revenue generated from the Anglo-American-controlled Woodsmith potash project currently under construction in the United Kingdom.
With an original investment of AU$380.6 million in 2016 to then-owner Sirius Minerals, Hancock Prospecting has a 5 percent revenue royalty on the first 13 million tonnes of fertiliser produced from Woodsmith and 1 percent thereafter. Hancock also has a 20,000 tonne per year offtake option. The timeline for Rinehart’s royalty revenue has been pushed back, however, as Anglo is cutting spending at Woodsmith following BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) failed mega-merger with Anglo American.
Investor takeaway
With Gina Rinehart at the helm of Hancock Prospecting, the Roy Hill iron ore mine has generated stellar revenues.
That wealth creation not only made her Australia's richest person, but has also built a powerful war chest from which Rinehart is expanding her mining empire.
Investors can take cues from her recent and future moves in the mining sector. Although she may be defensive toward renewable energy technologies encroaching on agricultural land, she understands the strategical importance of investing in critical metals for the green transition such as lithium, rare earths and copper.
FAQs for Gina Rinehart
How much is Gina Rinehart worth?
Gina Rinehart's net worth is reported to be AU$38.11 billion, maintaining her spot as the richest Australian, according to figures from the Australian Financial Review's Rich List 2025. However, her total wealth is down 6 percent over the previous year.
"Iron ore magnate Rinehart has topped the Rich List for the sixth year in a row, but the falling iron ore price has hit the valuation of her Hancock Prospecting, wiping around $2b off her estimated net worth," the list's authors explain.
What company does Gina Rinehart own?
Gina Rinehart owns Hancock Prospecting, a private company founded by her late father Lang Hancock. Originally an iron ore mining company, today the firm has strategic stakes in a wide-range of metals and commodities from lithium and rare earths to copper and agriculture, which are detailed in this article.
Can I buy shares in Hancock Prospecting?
While investors can't buy public shares in privately held Hancock Prospecting, they can take equity positions in the publicly traded stocks in which the company itself holds interest. Some of these stocks include Arafura Rare Earths (ASX:ARU,OTC Pink:ARAFF), Liontown Resources (ASX:LTR,OTC Pink:LINRF), MP Materials (NYSE:MP) and Lynas Rare Earths (ASX:LYC).
Does Gina Rinehart own Rio Tinto?
Although she has interest in many mining companies and the two companies share the Hope Downs joint venture, Gina Rinehart does not own mining giant Rio Tinto. Market Screener reports that Aluminum Corporation of China (SHA:601600) is its largest shareholder at 14.5 percent, followed by BlackRock (NYSE:BLK) and others at around 3 percent and below.
What does Gina Rinehart think about nuclear energy?
Gina Rinehart is pro-nuclear energy. During a speech at The Australian Bush Summit in 2023, she railed against the impact of wind and solar farms on much needed agricultural land in Australia. She suggested that nuclear energy offers a more viable solution for reaching the country's net zero targets.
Is Gina Rinehart the richest person in Australia?
Gina Rinehart is the richest person in Australia with a net worth of AU$38.11 billion. In 2025, she topped the Australian Financial Review's Rich List for the sixth consecutive year in a row. The next richest Australian, real estate developer Harry Triguboff, trails her at AU$29.65 billion.
Is Gina Rinehart the richest woman in the world?
Gina Rinehart is not the richest woman in the world. While she did rank as the world's ninth richest woman in 2024, as of March 2025, she is no longer in the top ten. The distinction of richest woman in the world goes to Walmart (NYSE:WMT) heiress Alice Walton. Rinehart previously held the title in 2012.
This is an updated version of an article first published by the Investing News Network in 2024.
Don't forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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