Original article by Jemima Whyte
The Australian Financial Review – Page: 12 : 10-Apr-24

US-based rare earths producer MP Materials has disclosed that its shareholders include Hancock Prospecting. The Gina Rinehart-controlled company’s 5.3 per cent stake in MP Materials is worth about $US150m, based on the company’s current share price. Hancock’s stake was disclosed after MP Materials undertook a share buyback. Hancock also holds stakes in Australian-listed companies Brazilian Rare Earths and Arafura Rare Earths. MP Materials recently held merger talks with Lynas Rare Earths, although a deal did not eventuate.

CORPORATES
MP MATERIALS CORPORATION, HANCOCK PROSPECTING PTY LTD, LYNAS RARE EARTHS LIMITED – ASX LYC, BRAZILIAN RARE EARTHS LIMITED – ASX BRE, ARAFURA RARE EARTHS LIMITED – ASX ARU