The mining company controlled by Australia’s wealthiest individual, Gina Rinehart, has diversified its American investment holdings by purchasing defense contractor stocks, precious metals, and rare earth mineral companies, recent regulatory documents revealed Monday.
Hancock Prospecting shifted $133 million of its $3.3 billion American portfolio during March, acquiring stakes in defense contractors CrowdStrike, L3Harris, Lockheed, Northrop Grumman and RTX, according to documentation filed May 15.
The investment strategy also included purchasing shares in major gold mining company Newmont. Additionally, Hancock Prospecting acquired a 6.3% ownership stake in Rare Earths Americas during the current quarter, separate documentation from May 14 indicated.
The company expanded its ownership in copper mining firm Hudbay Minerals by approximately 10% while completely divesting from Chilean lithium company SQM, despite jointly developing the Andover lithium project in Australia with that firm.
Hancock’s largest investments continue to be concentrated in Invesco’s QQQ Trust technology exchange-traded fund and American rare earths company MP Materials, which collectively represented 47% of the portfolio’s total value at the conclusion of March, according to financial analysis.
