Mineral Resources CEO Chris Ellison chooses Australia over China for lithium business

Mineral Resources (ASX:MIN), led by CEO Chris Ellison, has made a strategic decision to forego its plan of constructing lithium hydroxide refineries in China. Instead, the company is shifting its focus to producing a lithium sulphate product in Australia. According to Mr. Ellison, the returns from this new approach justify avoiding the costs and risks associated with moving fully downstream into battery chemicals in China.

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ASX 0.32% higher at noon: Fortescue rallies on Twiggy’s visit to US

Mining giant Fortescue (ASX:FMG), led by executive chairman Andrew Forrest, saw a nearly 4% increase in shares on the ASX 200 index as he promoted his green hydrogen initiative in the US and inspected Austal's shipyards. The Forrests' private investment vehicle, Tattarang, holds a 19% stake in Austal, which recently entered a trading halt, attracting interest from North American suitors due to its US Navy contracts.

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