Australia’s wealthiest, Gina Rinehart, doubles Arafura Rare Earths stake

* Australia’s wealthiest individual, Gina Rinehart, is set to nearly double her stake in Arafura Rare Earths (OTCPK:ARAFF [https://seekingalpha.com/symbol/ARAFF]), shortly after a landmark U.S.-Australia agreement aimed at strengthening the China-dominated industry.
* Rinehart-owned Hancock Prospecting Pty, Arafura’s largest shareholder, will hold an interest of about 15.7% after an institutional two-tranche placement of new shares, the miner said in a regulatory release.
* That will raise about A$475 million ($311 million), of which Hancock has submitted to subscribe to A$125 million.

MORE ON ARAFURA RARE EARTHS

* Critical mineral stocks rally on US-China tensions; MP Materials and USA Rare Earth lead gains [https://seekingalpha.com/news/4503490-rare-earth-stocks-surge-on-us-china-tensions-arafura-soars-27-australian-strategic-materials-jumps-42]
* Historical earnings data for Arafura Rare Earths [https://seekingalpha.com/symbol/ARAFF/earnings]
* Financial information for Arafura Rare Earths [https://seekingalpha.com/symbol/ARAFF/income-statement]