Shareholders in Azure Minerals Ltd. have approved the Australian lithium miner’s takeover by billionaire Gina Rinehart’s private company Hancock Prospecting Pty Ltd. and partner Sociedad Química y Minera de Chile.
Under the deal, the Hancock-SQM consortium will acquire the Perth-based, ASX-listed company for A$3.70 per share, a significant premium on its last traded price of A$3.30. It values the miner at A$1.7 billion (US$1.1 billion).