Australia’s Iron Lady Gina Rinehart Makes a Big Bet on Lithium

Gina Rinehart, the Australian mining billionaire, has built a nearly 6% stake in rare-earth

Gina Rinehart is looking to life beyond the rivers of cash from iron. The mining magnate has struck a deal to buy into an iron ore project in Western Australia’s northern Pilbara region. Rinehart is the chairman of Hancock Prospecting, a closely held company that owns the Roy Hill iron ore mine in the Pilbara. The company is also developing the Alpha iron ore project in the same region.

Rinehart’s investment in lithium is a sign of her confidence in the future of the electric vehicle market. Lithium is a key component in the batteries that power electric vehicles. The demand for lithium is expected to grow exponentially in the coming years as more and more people switch to electric vehicles.

Rinehart’s investment in lithium is also a sign of her willingness to take risks. She is known for her aggressive investment style and her willingness to bet on new and emerging technologies. Her investment in lithium is a sign that she believes that the future of the mining industry lies in renewable energy.

Rinehart’s investment in lithium is a sign of her confidence in the future of the electric vehicle market

The electric vehicle market is growing rapidly. In 2022, global electric vehicle sales reached 10.5 million units, up 56% from the previous year. The growth in electric vehicle sales is being driven by a number of factors, including the rising cost of gasoline, the increasing availability of affordable electric vehicles, and the growing awareness of the environmental benefits of electric vehicles.

The demand for lithium is expected to grow exponentially in the coming years as more and more people switch to electric vehicles. According to the International Energy Agency, global demand for lithium is expected to reach 4,200 metric tons by 2030, up from 530 metric tons in 2022.

Rinehart’s investment in lithium is a sign of her belief in the future of the electric vehicle market. She is betting that the demand for lithium will continue to grow in the coming years, and that lithium will be a key component in the transition to a clean energy future.