Lithium ION Energy Limited (TSXV: ION) (FSE: ZA4) ("ION" or the "Company") is pleased to share that it has entered into a binding Joint Venture Agreement with SureFQ Ltd. ("SureFQ") for the advancement of the Urgakh Naran project in Mongolia, in which ION will continue to hold a 20% free carried interest through to commercial production.
Highlights:
"This milestone is a testament to the ION team's perseverance to deliver upon a strategic partnership that ensures the advancement of our UN asset at a time of historical low Lithium prices; demonstrating a path to production with associated upside that benefits our shareholders. We continue to see Urgakh Naran as an asset with significant potential and are excited to bring on a partner with proven technology that ensures revenue generation expeditiously," said Ali Haji, CEO & Director - Lithium ION Energy Ltd.
"SureFQ is thrilled to support this transformative partnership, which not only accelerates the development of the Urgakh Naran project, but also underscores the resilience and foresight of the ION team. In a challenging lithium market, strategic collaborations like this pave the way for sustainable growth and long-term value creation. We look forward to the positive impact this venture will have on the industry and stakeholders alike," said Hao Qu, CEO - SureFQ.
The Joint Venture agreement was signed effective March 26, 2025. The transaction is expected to close by July 1, 2025, subject to TSXV approval.
Debt Settlement
The Company further announces that it has negotiated debt settlements with certain non-arm's length creditors (the "Debt Settlement"). Pursuant to the Debt Settlement and subject to acceptance by the TSXV, the Company has agreed to settle an aggregate amount of $120,000 in debt, in consideration for which it will issue an aggregate of 3,000,000 common shares of the Company at a deemed price of $0.04 per share.
All securities issued in relation to the Debt Settlement will be subject to a hold period expiring four months and one day after the date of issuance in accordance with applicable securities laws and the policies of the TSXV. Completion of the Debt Settlement remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.
Related Party Transaction
The conversion of debt to shares by insiders will be considered a "related party transaction" pursuant to Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101") requiring the Company, in the absence of exemptions, to obtain a formal valuation for, and minority shareholder approval of, the "related party transaction". The Company is relying on an exemption from the formal valuation requirements of MI 61-101 available, because no securities of the Company are listed on specified markets, including the TSX, the New York Stock Exchange, the American Stock Exchange, the NASDAQ or any stock exchange outside of Canada and the United States other than the Alternative Investment Market of the London Stock Exchange or the PLUS markets operated by PLUS Markets Group plc. The Company is also relying on the exemption from minority shareholder approval requirements set out in MI 61-101 as the fair market value of the participation in the Offering by the insiders does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. It is likely the Company will not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering as the Company wishes to close the Offering in an expeditious manner.
Update On Contemplated Business Combination
ION also announces that it is no longer pursuing the contemplated business combination transaction with United Rare Earths as previously announced on October 29, 2024. Following a thorough review of the contemplated transaction by the Board, a collective decision was arrived at not to pursue the transaction. The Board continues to evaluate additional Lithium and critical metal projects to align with our strategic objectives.
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship 65,000+ hectare Baavhai Uul lithium brine project, represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
About SureFQ Ltd.
SureFQ is dedicated to advancing innovative and sustainable solutions in the lithium and energy sectors. As a strategic investment and development firm, SureFQ focuses on fostering high-potential projects that drive the global energy transition. Leveraging SureFQ's extensive industry expertise and technological capabilities, SureFQ plays a pivotal role in accelerating lithium resource development and deploying cutting-edge extraction technologies. Through its partnerships and investments, SureFQ is committed to ensuring a stable and efficient supply of critical materials for the clean energy revolution.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
COMPANY CONTACT: Hao Qu, quhao@litioconstante.com
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including with respect to the proposed business combination and the Company's operations after completion thereof, and other words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, including with respect to the entering into of the proposed joint venture with SureFQ and the Company's operations after the completion thereof. Important factors that could cause actual results to differ materially from ION Energy's expectations include, among others, regulatory approvals, the ability to negotiate and implement definitive agreements, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and the ability to predict or counteract other factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246288
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Lithium ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") further to the announcement of March 13, 2024, confirms that it has completed debt settlement agreements with certain arm's length and non-arm's length creditors. Pursuant to the debt settlement agreements, the Company has settled an aggregate amount of $98,419 in debt, in consideration for which it will issue an aggregate of 393,675 common shares (the "Shares") of the Company at a deemed price of $0.25 per Share.
All Shares issued in relation to these debt settlements will be subject to a hold period expiring four months and one day after the date the Shares are issued, in accordance with applicable securities laws and the policies of the TSXV.
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: Z4A) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 65,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward‐looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, anticipated regulatory approvals and completion and timing of closing of the debt settlement. Important factors that could cause actual results to differ materially from Ion's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214955
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Lithium ION Energy Ltd (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") announces today that it intends to extend the expiry date of an aggregate 11,500,000 outstanding common share purchase warrants of the Company (the "April Warrants") by 12 months to April 12, 2025 and an aggregate 4,000,000 outstanding common share purchase warrants of the Company (the "July Warrants" and collectively with the April Warrants, the "Warrants") by 12 months to July 20, 2025 (collectively with the extension of April Warrants, the "Extension").
The April Warrants were issued pursuant to a public offering which closed on April 13, 2021 and are set to expire on April 12, 2024. The April Warrants were issued pursuant to a warrant indenture dated April 13, 2021 between the Company and TSX Trust and each April Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.70. The July Warrants were issued pursuant to a non-brokered private placement which closed on July 20, 2023 and are set to expire on July 20, 2024. Each July Warrant entitles the holder thereof to acquire one common share of the Company at a price of CAD $0.40.
The Company believes that the extension of the Warrants is reasonable and necessary in the context of the overall market, as it increases the likelihood that any additional cash needs of the Company could be financed through the exercise of the Warrants.
The Extension remains subject to receipt of approval of the TSX Venture Exchange.
About Lithium ion energy ltd.
Lithium ion energy ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 63,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
For further information:
COMPANYCONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward‐looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, anticipated regulatory approvals and completion and timing of closing of the debt settlement. Important factors that could cause actual results to differ materially from Ion's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203328
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Lithium ION Energy Limited (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) ("ION" or the "Company") announces that it has negotiated debt settlement agreements with certain arm's length and non-arm's length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX Venture Exchange (the "TSXV"), the Company has settled an aggregate amount of $143,669 in debt, in consideration for which it will issue an aggregate of 606,675 common shares (the "Shares") of the Company at a deemed price of $0.24 per Share.
All Shares issued in relation to these debt settlements will be subject to a hold period expiring four months and one day after the date the Shares are issued, in accordance with applicable securities laws and the policies of the TSXV.
The Company also announces that it has granted to certain consultants and insiders of the Company an aggregate of 1,250,000 incentive stock options (the "Stock Options") to purchase common shares under the Company's incentive stock option plan (the "Plan"). Each Stock Option is exercisable into a common share of the Company at a price of $0.09 for a period of two years from the date of grant. The Stock Options will vest immediately and be subject to the terms and conditions of the Plan and the policies of the TSX Venture Exchange.
About Lithium ion energy ltd.
Lithium ion energy ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward‐looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, anticipated regulatory approvals and completion and timing of closing of the debt settlement. Important factors that could cause actual results to differ materially from Ion's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and ability to predict or counteract potential impact of COVID-19 coronavirus on factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201646
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Ali Haji, CEO & Director of Lithium Ion Energy, stated, "We are extremely pleased to be able to formalize our agreement with Aranjin, realizing the upside of the Victory Nickel deposit by carving out the discovery from the large Baavhai Uul licence enabling Aranjin to immediately begin to unearth value, while ION continues to have a 20% carried interest in the project and all Lithium rights therein."
Victory Nickel Project - Mongolia
Further to the announcement on February 1, 2022, Lithium Ion Energy has now formalized its 20% ownership interest in the Victory Nickel Project further to the announcement on February 1, 2022. The Joint Venture arrangement consisted of the Company and Aranjin Resources granting one another reciprocal exploration rights on their respective exploration licences within Mongolia. ION and Aranjin granted each other a reciprocal right to explore one another's properties, with Aranjin earning an 80% interest and ION earning a 20% interest in all base metal projects discovered on ION's properties, and ION earning an 80% interest and Aranjin earning a 20% interest in all lithium projects discovered on Aranjin's properties, subject to existing royalties.
Following exploration work by both parties in 2022 and 2023, the parties agreed to formally separate their ownership of the Baavhai Uul project previously wholly owned by ION to largely mirror the business arrangement set out in the Joint Venture Agreement. The split of the Baavhai Uul licence is pending approval by the Mineral Resource and Petroleum Authority of Mongolia. Under the Joint Venture, Aranjin will own 80% of the Victory Nickel project and relinquish rights to the remainder of the licence comprising the Baavhai Uul project. Ion Energy will retain a 20% free carried interest in the Victory Nickel Project until commercial production as well as retain all lithium rights to the Victory Nickel Project.
About Lithium ion energy ltd.
Lithium iion energy ltd. (TSXV: ION) (OTCQB: IONGF) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 81,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION will have significantly enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, and statements, and the prospectivity of its exploration property portfolio for lithium mineralization. Important factors that could cause actual results to differ materially from Ion Energy's expectations include, among others, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, and delays in the development of projects. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183462
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“China needs growing feedstock to supply its chemical demand,” Cook explained at Fastmarkets' Lithium Supply & Battery Raw Materials event, “and Africa is of growing importance in fulfilling this gap.”
Between 2025 and 2035, lithium production across Africa is projected to increase by a staggering 127 percent, driven by new mines in Zimbabwe, Mali, Ethiopia and Namibia. Cook highlighted that against that backdrop Africa’s share of global lithium supply will surge from a small fraction today to around 80 percent by 2030.
The motivation for China is clear: the Asian nation cannot meet demand by tapping domestic sources alone. China’s hard-rock lithium supply has a growing deficit that will multiply fivefold by 2035.
“That deficit is growing and is said to be a five times increase from 2020 to 2035,” Cook said, pointing to forecasts of rising chemical demand from Chinese battery producers. As a result, Chinese firms have aggressively invested in African lithium projects, locking up supply in countries with looser regulatory controls and cheaper production costs.
In Zimbabwe and Mali, Chinese ownership of lithium mines is expected to remain significant, even if the share of Chinese-owned production in Africa declines modestly from 79 percent in 2025 to 65 percent by 2035.
“In 2025, African output is set to have 79 percent of it being China owned, and that percentage reduces down to 65 percent in 2035,” Cook stated, adding that overall output will still nearly double.
As a result, total Chinese-controlled volumes will keep rising.
Zimbabwe in particular has positioned itself at the heart of Africa’s lithium expansion.
Under its Vision 2030 program, introduced in 2018, the country is aiming to transition to an upper- to middle-income economy by building more domestic value from its minerals. As part of this framework, authorities have prioritized increasing value addition and beneficiation of raw materials as a central pillar of economic growth
Zimbabwe's 2022 ban on raw lithium ore exports, coupled with a planned 2027 ban on concentrate exports, is designed to force local upgrading and refining. Chinese-backed operators have already responded to this move, investing in midstream processing facilities that convert lithium ore into more valuable chemicals.
Cook said there were no surprises in Zimbabwe’s 2027 concentrate ban because Zimbabwe’s largest lithium projects — Arcadia and Bikita — had already planned sulfate plants late last year.
Both projects are already dominated by Chinese investors. In fact, Cook said Zimbabwe could soon become the fifth-largest producer of mined lithium globally, with Chinese interests controlling as much as 90 percent of its output.
Slide from Cook showing Zimbabwe's future lithium supply dominance in Africa.
Image via Georgia Williams.
Despite this surge, Africa’s lithium boom is hardly risk-free. Cook flagged serious challenges in transport, electricity and worker conditions in her presentation at the Fastmarkets conference.
“Local workers often also tend to be within the lower skilled jobs, and unlike the Australian mines, a lot of that work is done manually, which can mean there is an increased risk to personal safety,” she said.
Road bottlenecks and port congestion in countries like South Africa hamper exports, while rolling blackouts push some miners to build their own power infrastructure. However, China’s Belt and Road Initiative is easing some of those pain points, upgrading key transport corridors to keep African lithium flowing.
Domestically, China is also seeing a shift in how it sources lithium.
Benchmark Mineral Intelligence data shows that brine-based production, once a major source for China, is declining relative to hard rock. By 2035, hard rock will make up the majority of Chinese feedstock.
Cook speaks on stage at the Fastmarkets event.
Image via Georgia Williams.
While the reopening of CATL's (SZSE:300750,HKEX:3750) mine in Jiangxi province this year will help, Cook argued that China is still structurally dependent on Africa and other regions to fill the supply gap.
That dependence, she said, is at the heart of Beijing’s long-term lithium security push. “China is directly investing to secure supply, to get that hard-rock feedstock," she commented.
While Zimbabwe, along with Mali, is grabbing attention now, Cook forecast that new African lithium suppliers will emerge by 2035, including Ethiopia, Namibia and the Democratic Republic of Congo.
She also noted potential future lithium supply growth from Rwanda, Nigeria and Côte d'Ivoire, even though these countries are still years away from commercial production.
This potential dominance could come with price advantages too.
African lithium projects often have lower upfront costs compared to Australia because of their lower grades and cheaper labor, even though they may face higher impurities and weaker ESG oversight.
“It also means that in terms of pricing, we see that the spodumene price that's coming out of some of these projects is typically around US$20 to US$30 lower than the spot price that you'll see quoted by Newcastle,” Cook noted.
Still, quality issues and chronic underinvestment in African infrastructure could slow progress. Cook emphasized that transport, electricity reliability and governance will determine whether Africa can live up to its lithium promise.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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.”
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.
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:
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.”
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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.
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.”
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.
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.
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 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 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.
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 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 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 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.
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.
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.
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.
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).
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.
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.
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.
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.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
