Gina Rinehart signs a $1.1 billion gas deal with Chris Ellison’s Mineral Resources

Mineral Resources will cut 570 jobs and delay construction of the Mount Marion lithium project as the diversified miner led by billionaire businessman Chris Ellison tries to repair a debt-laden balance sheet.

The disclosure of the job cuts, which have taken place over the past four months as lithium prices have remained stubbornly low, came at the same time the company said it had sold gas assets for $1.1 billion to mining magnate Gina Rinehart and closed his Yilgarn business . iron ore mine.

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