Liontown Battle: Australia Briefing

The battle for control of lithium producer Liontown Resources is heating up, after Australia’s richest woman expanded her stake. Gina Rinehart’s Hancock Prospecting now owns 14.67% of the company, which is the subject of a multibillion dollar takeover offer from Albemarle Corp., the world’s largest lithium producer.

The cost of Australian cattle has tumbled to the lowest level in about nine years and is likely to fall further as ranchers cull an expanded herd following the onset of El Niño.

New governor, same story. The Reserve Bank kept its key interest rate unchanged yesterday, as new Governor Michele Bullock gauges the impact of 4 percentage points of hikes. Across the ditch, New Zealand’s central bank is also expected to keep rates on hold today.

Sticking with New Zealand, there are signs the property market slump may finally be over. House prices steadied in September following 17 consecutive monthly declines, according to CoreLogic New Zealand.

It’s less than two weeks before Australians vote on whether an Indigenous Voice to Parliament should be included in the constitution, and an opinion poll has recorded a rare rise in support. Backing for the advisory body climbed 2 points to 43%., while opposition slid to 49% from 51%, an Essential Media poll released yesterday found.