
RINEHART TO JOIN SQM FOR AZURE BUYOUT
Gina Rinehart’s Hancock Prospecting has secured a potential long-term development partner for the company’s West Australian lithium assets after teaming up with global lithium giant SQM in a $1.7bn joint takeover of Azure Minerals. Hancock and SQM will jointly bid for Azure through a newly registered company, SH Mining – half-owned by Chile’s SQM and half by Hancock subsidiary Hanrine Future Metals, with Mrs Rinehart installing trusted lieutenants Jay Newby and Tad Watroba on its board to oversee the joint venture.