Australia’s wealthiest person, Gina Rinehart, has been quietly building one of the smartest collections of critical minerals investments around the world. Through her company Hancock Prospecting, she’s now involved in lithium, rare earths, copper, antimony, and niobium. This puts her right in the middle of the shift to clean energy.
Rinehart started as the queen of iron ore, but she’s smartly switching gears to become a powerhouse in critical minerals. It’s a clever bet on Australia’s starring role in the clean energy boom. With a fortune of about $59 billion, she’s poured over $2.3 billion into these strategic minerals since 2022.
Why Rinehart’s Switch from Iron Ore to Critical Minerals Makes Sense
After knocking off the $17.1 billion debt on the Roy Hill project in just five years, Rinehart had heaps of spare cash. Now she’s splashing it on lithium, rare earths, copper, potash, and gas. This move lines up spot-on with Australia turning into a global leader in critical minerals.
The stats paint a clear picture. In 2024, global demand for lithium jumped nearly 30%, while nickel, cobalt, graphite, and rare earths grew by 6-8%. By 2040, lithium needs could skyrocket five times over, and graphite and nickel might double. Rinehart’s timing is spot-on – the rare earths market could hit $57.1 billion by 2033, growing at 12.83% a year.
Hancock’s Star Players in Rare Earths
Rare earths are the shining gems in Hancock’s crown. They own big chunks of top producers like US-based MP Materials and Aussie favourite Lynas Rare Earths, plus up-and-coming Arafura Rare Earths.
- Arafura Rare Earths (ASX: ARU): Hancock’s the biggest shareholder with 10%, eyeing the Nolans project in the Northern Territory. It’s ready to build and snagged $2.3 billion in loans back in mid-2024, even when markets were tough.
- Lynas Rare Earths (ASX: LYC): Rinehart bumped her stake to 8.21% in January 2025, from 5.82% the year before. As the top non-Chinese producer, it gives solid access to real-world mining and processing.
- MP Materials (NYSE: MP): She upped her share to 8.5% in November 2024. Then, in July 2025, the US Defence Department chipped in $620 million, locking in a $170 per kilo floor price for key products like Neodymium-Praseodymium.
Jumping on the Lithium Bandwagon
For lithium – the heart of batteries – Rinehart’s backed Azure Minerals’ Andover project, Liontown Resources, Delta Lithium, and Vulcan Energy Resources, mostly in 2023 and 2024.
Her Azure Minerals move was a cracker: In 2023, she grabbed an 18% stake to block others, then partnered with Chilean giant SQM for a $2.6 billion buyout that wrapped up in 2024. Over in Europe, Vulcan Energy Resources (ASX: VUL) hit a win in November 2024 with first output from its lithium hydroxide plant in Germany.
Copper: Fuel for Electric Everything
Rinehart’s copper bets focus on Ecuador’s Andean belt, teaming up with explorers like Titan Minerals and the local state firm Empresa Nacional Minera. In March 2024, her Hancock offshoot Hanrine bought 49% of six mining spots for $289 million. It’s a smart play ahead of a big copper crunch – demand’s surging for electric cars and wires, but supplies might fall short by 30% by 2035.
What’s Driving All This? Market Forces at Play
The big worry is supply chains. China controls over two-thirds of rare earths and heaps of other key minerals, with export rules on more than half of energy minerals. But that’s where the gold is – non-Chinese players like Hancock’s MP Materials stake could rake in “Roy Hill-level” cash thanks to premium prices.
Australia’s got a $26.2 billion tax credit scheme and plans for a strategic stockpile to boost critical minerals. Exports could top $32.5 billion by 2030. Rinehart’s picks fit like a glove, so Hancock’s primed for government backing and global tie-ups.
Financial Performance and Market Positioning
Fresh US filings show Hancock’s US holdings hit $4.4 billion by June 30, topped by $1.1 billion in the Invesco QQQ Trust. These are bold, against-the-grain bets – lithium prices are flat, but Rinehart’s holding steady for the long haul.
In late 2024, she snapped up Mineral Resources’ energy gear for $1.7 billion after a speedy six-week check. That made her WA’s top gas maker, freeing up more cash for minerals adventures.
Global Context: The Critical Minerals Race
The US has a Critical Minerals Task Force linking with mates like Australia to shake up supply chains and cut foreign reliance. Lately, the US Energy Department dropped nearly $1.5 billion to ramp up homegrown production. Australia’s in a sweet spot to help diversify and supply what the world – especially the US – needs.
Cool tech like AI is spotting deposits faster and cheaper, while new lithium tricks use less water than old ponds. Bets on outfits like Vulcan put Hancock ahead in eco-friendly mining.
Australia’s critical minerals projects showing geographic distribution across key mining regions.
Investment Outlook and Strategic Implications
Rare earths could grow at 10.21% a year to $15.3 billion by 2034, thanks to magnets in EVs, wind farms, and gadgets. Lithium’s set for shortages by the 2030s, but new projects look promising – better than copper’s outlook.
Investors love ESG now, so top-notch environmental and social practices boost company values. Australia’s strict rules, green cred, and know-how give it an edge over cheap-but-risky spots.
Wrapping It Up: Rinehart’s Investment Plan
This isn’t just Rinehart spreading her bets – it’s a full-on rethink for the clean energy era. Using iron ore profits, she’s woven Hancock into the heart of Australia’s mining story. It feels like a powerhouse shift, not a side gig.
With gov help, tech breakthroughs, and endless demand, her moves look set to shape Aussie mining for decades. Australia’s bang in the middle of this global minerals rush, and Rinehart’s savvy plays could lead the charge into the 21st century.
