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Is Hancock set on keeping Australian mines for Australian developers?

Posted on - 13 Nov 2023

Category - Finance/M&A

Not content with blocking Albemarle’s (NYSE:ALB) attempted takeout of Liontown Resources (ASX:LTR), Gina Rinehart vehicle Hancock Prospecting now looks like it’s trying to hijack SQM’s (NYSE:SQM) attempted acquisition of Azure Minerals (ASX:AZS). As readers will know, Albemarle withdrew from its offer for Liontown earlier in October after Hancock amassed a 19.9% position in its target. Albemarle cited “growing complexities” associated with its bid. Later in the month, SQM agreed to take out pre-resource Azure Minerals whose project is substantially earlier stage and located close to Port Hedland in the northern part of WA. SQM, an existing shareholder in AZS, offered...

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Albemarle Azure Minerals Develop Global Hancock Prospecting Liontown Resources Lithium M&A Mineral Resources Valuation