Australia’s richest person has made a strategic move in the U.S. rare earths industry as competition with China for these high-tech materials heats up. Gina Rinehart, known for her investments in iron ore and battery metals, has acquired a 5.3% stake in MP Materials, the owner of the Mountain Pass rare earths mine in California. This move has caused a 20% increase in MP's share price over the last five days.
Rinehart's interest in rare earths extends beyond MP, with stakes in other companies like Arafura Resources in Australia and a Brazilian rare earth company. With her substantial wealth and influence, Rinehart could play a significant role in shaping the non-Chinese rare earths industry.
