Gina Rinehart’s Hancock Prospecting has pocketed almost $2.14 billion in dividends from its Roy Hill iron ore mine in the Pilbara in recent months, fuelling the billionaire businesswoman’s spending spree on lithium stocks.
Hancock said late on Friday that built an 18 per cent stake in Azure Minerals, putting in the box seat to decide the fate of a $1.63 billion takeover offer for the West Australian lithium explorer from Sociedad Química y Minera.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com