Rinehart ups stake in Lynas

Mining magnate Gina Rinehart has upped her stake in Lynas Rare Earths, with her foothold in the critical minerals player now worth $404 million.

An ASX filing revealing Gina Rinehart, Hancock Prospecting and subsidiaries of HPPL increased its voting power from 5.83 per cent to 7.14 per cent.

Mrs Rinehart bought more than 12 million shares in Lynas, worth $74 million dollars, as the miner released its fourth quarter results to market.

The 7.14 per cent stake in the Amanda Lacaze-led miner is worth almost $404 million, at its last trade price of $6.05 per share.

In April, Mrs Rinehart’s Hancock Prospecting has amassed a substantial stake in Lynas after spending about $49 million over a week to grow its stake to 5.83 per cent.

That meant Mrs Rinehart's Hancock now had substantial footholds in the two largest rare earth producers outside of China, being Lynas and US-based MP Materials.

She also has a stake in lithium project developer Liontown Resources, and had a foothold in Azure Minerals prior to co-launching the takeover.