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MinRes Moving Forward with Major Lithium Plans

Billionaire Australian mining magnate Chris Ellison is preparing to create a lithium super company and will continue buying up more battery metal companies.

The mining giant MinRes is fast growing a massive stack of lithium chips, buying up smaller players mostly in Western Australia’s lithium-rich belts.

The entrepreneur held his annual general meeting today, some highlights include: 

Plans to continue buying up more lithium companies and consolidate into the MinRes machine – “Some of these companies don’t have any experience, they are more interested in milking the share market than mining the deposit,” he said.

He says the A$1.6B SQM bid for Azure Minerals is “dead in the water” – after he, fellow billionaire Gine Rinehart and others raided the share registry of (ASX:AZS) to block it.

Says MinRes will focus on the Gold Fields of Western Australia – “All of the gold companies sort of sit in the ground down there, and are really only interested in gold. About the middle of next year, we will probably have wrapped up gathering up as much rock as we can,” he told shareholders.

Read more about MinRes grand lithium strategy below, with Blackwattle Investment Partners’ Ray David explaining the analogous story of Chris Ellison and famed entrepreneur Sam Zemurray:

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