Billionaire Rinehart Boosts Australian Rare Earths Position
Originally published by Paul-Alain Hunt of Bloomberg
22.05.2026
Australia’s richest person Gina Rinehart will lift her stake in Arafura Rare Earths Ltd. as part of a A$375 million ($268 million) capital raising plan.
The firm has launched a two-tranche share placement at 26 cents per share aimed at raising A$350 million, plus an additional stock purchase plan to raise up to A$25 million, at the same price, according to a statement Friday.
Rinehart is already the largest shareholder in Arafura, holding around 15% of the company, according to Arafura. The company said Rinehart’s private vehicle Hancock Prospecting Ltd. had committed to purchase A$85 million worth of new stock, lifting its stake to around 17.5%.
The capital raise comes a day after Arafura made a final investment decision to develop its Nolans mine in Australia’s Northern Territory, which is set to produce about 5% of global rare earths. Arafura’s shares were halted in Sydney trading Friday morning.
The company has secured offtake agreements and more than A$1 billion in financial support from the Australian government, including loans and an equity investment through Export Finance Australia. It plans to sell around 20% of its targeted neodymium-praseodymium oxide output on the spot market.
Rinehart was an early mover investing in rare earths, building the world’s largest portfolio of rare-earth element investments outside China more than 20 years after first making her fortune in steelmaking iron ore. She also holds stakes in MP Materials Corp., Lynas Rare Earths Ltd., and most recently bought shares in US-listed critical minerals developer Rare Earths Americas Inc.
While mining is one of the key focuses for Rinehart’s closely-held Hancock, she is also one of Australia’s biggest agricultural land owners. She recently expanded her position in military and defense stocks, buying shares in RTX Corp., Northrop Grumman Corp., L3Harris Technologies Inc. and Lockheed Martin Corp. that were worth a combined $97 million as of March 31, according to a regulatory filing.
Australia’s richest person Gina Rinehart will lift her stake in Arafura Rare Earths Ltd. as part of a A$375 million ($268 million) capital raising plan.
The firm has launched a two-tranche share placement at 26 cents per share aimed at raising A$350 million, plus an additional stock purchase plan to raise up to A$25 million, at the same price, according to a statement Friday.
Rinehart is already the largest shareholder in Arafura, holding around 15% of the company, according to Arafura. The company said Rinehart’s private vehicle Hancock Prospecting Ltd. had committed to purchase A$85 million worth of new stock, lifting its stake to around 17.5%.
The capital raise comes a day after Arafura made a final investment decision to develop its Nolans mine in Australia’s Northern Territory, which is set to produce about 5% of global rare earths. Arafura’s shares were halted in Sydney trading Friday morning.
The company has secured offtake agreements and more than A$1 billion in financial support from the Australian government, including loans and an equity investment through Export Finance Australia. It plans to sell around 20% of its targeted neodymium-praseodymium oxide output on the spot market.
Rinehart was an early mover investing in rare earths, building the world’s largest portfolio of rare-earth element investments outside China more than 20 years after first making her fortune in steelmaking iron ore. She also holds stakes in MP Materials Corp., Lynas Rare Earths Ltd., and most recently bought shares in US-listed critical minerals developer Rare Earths Americas Inc.
While mining is one of the key focuses for Rinehart’s closely-held Hancock, she is also one of Australia’s biggest agricultural land owners. She recently expanded her position in military and defense stocks, buying shares in RTX Corp., Northrop Grumman Corp., L3Harris Technologies Inc. and Lockheed Martin Corp. that were worth a combined $97 million as of March 31, according to a regulatory filing.