AustralianSuper raises stake in Pilbara Minerals

Reuters | March 7, 2024 | 9:47 am Battery Metals Australia Lithium 
Credit: Pilbara Minerals Ltd.

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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