off-the-wire

AustralianSuper raises stake in Pilbara Minerals

Kitco Media
By Reuters
Published:
Updated:
Reuters
AustralianSuper raises stake in Pilbara Minerals teaser image

AustralianSuper has increased its stake in lithium miner Pilbara Minerals, an exchange filing showed on Thursday.

The country’s largest pension fund now holds a voting power of 7.37% in Pilbara, compared to a previous holding of 5.10%.

Pilbara Minerals is Australia’s most shorted stock at 21.3%, according to data provider ShortMan. The purchase comes as signs emerge that global demand for lithium might be reviving.

(By Adwitiya Srivastava; Editing by Sonia Cheema)

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