MELBOURNE, April 10 (Reuters) - U.S. rare-earths producer MP Materials (MP.N), opens new tab said Australian billionaire Gina Rinehart's mining firm had taken a 5.3% stake in the company, expanding her investments in the mineral ore sector.
In a regulatory filing last week, the Nevada-based miner said Hancock Prospecting, owned by Australia's richest person Rinehart, holds about 8.8 million shares of MP Materials.
MP Materials is the second-biggest producer of rare earths outside China after Australia's Lynas Rare Earths (LYC.AX), opens new tab. Lynas ended talks with MP Materials over a potential merger in February.
Hancock declined to comment on Wednesday.
The iron ore miner has been building stakes in critical minerals projects, including rare earths. Hancock's investments include a 6.17% stake in Brazilian Rare Earths (BRE.AX), opens new tab and a 9.14% holdings in Arafura Rare Earths (ARU.AX), opens new tab, according to LSEG data.
Reporting by Melanie Burton in Melbourne and Roshia Sabu in Bengaluru; Editing by Maju Samuel and Sherry Jacob-Phillips
