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Rinehart Bets Big on Defense & Gold
2 Jun
Summary
- Hancock Prospecting added defense firms and gold to its portfolio.
- New stakes include defense companies and a major gold producer.
- The company also increased its rare earths holdings.
Hancock Prospecting, owned by Australia's wealthiest individual, Gina Rinehart, has strategically expanded its $3.3 billion U.S. investment portfolio this year. The company added significant holdings in defense companies, including CrowdStrike, L3Harris, Lockheed, Northrop Grumman, and RTX, through a $133 million investment in March.
In addition to defense, Hancock Prospecting has bolstered its presence in the gold market by acquiring a stake in major producer Newmont. The firm also increased its investment in Rare Earths Americas, acquiring a 6.3% stake in the current quarter. Furthermore, its position in copper producer Hudbay Minerals saw a 10% boost, while holdings in Chilean lithium producer SQM were fully divested.
