As Aussie magnates gatecrash lithium deals, bankers get creative

Mining moguls Gina Rinehart (picture), the country’s richest person, and Chris Ellison have already thwarted two deals and threaten another. — Reuters

AUSTRALIAN mining moguls who have gatecrashed the country’s recent international lithium deals have pushed bankers into trying fresh measures to fend off interlopers unwilling to pay the full price for their target.

Australia’s vast lithium deposits needed for batteries for electric vehicles and the energy transition are drawing interest from global chemicals makers but local mining moguls Gina Rinehart, the country’s richest person, and Chris Ellison have already thwarted two deals and threaten another.