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Mineral Resources ups stake in Azure Minerals

14th November 2023

By: Reuters

  

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Australia's Mineral Resources said on Tuesday that it has bought additional shares in lithium miner Azure Minerals AZS.AX, raising its stake to 13.56% from 12.23% previously.

Mineral Resources is currently on a stake-buying spree, with the lithium miner recently acquiring about 19.9% in Wildcat Resources to become a substantial shareholder.

Previously, Hancock Prospecting, owned by Gina Rinehart, Australia's richest person, accumulated an 18.3% stake in Azure, which threatened to topple a A$1.63-billion buyout deal by Chile's SQM for the company.

SQM, Azure Minerals, and Mineral Resources did not immediately respond to a Reuters request for a comment.

Edited by Reuters

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