Australian billionaire Gina Rinehart has reportedly increased her investment in lithium producer Liontown Resources (OTC:LINRF) again.

This strategic move could provide her with enough leverage to block U.S. miner Albemarle Corp's (NYSE:ALB) proposed $4.3 billion takeover of the company, according to Reuters.

The report added that Rinehart, Australia's wealthiest individual, has raised her stake to 16.7%. This increase in ownership not only boosts her influence over Liontown Resources but also allows her to sway key decisions.

The development highlights the intensifying battle for a company that owns one of the world's richest lithium deposits, essential for manufacturing electric vehicles and smartphones.

Liontown's Kathleen Valley project in Western Australia, a significant lithium deposit, has reportedly secured a deal to supply battery materials to U.S. car giant Ford Motor Company (NYSE:F).

Rinehart has not publicly disclosed her position on Albemarle's bid but has kept silent and consistently increased her Liontown stake, mentioned the report.

Price Action: ALB shares are trading higher by 1.52% at $157.38 on the last check Friday.

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