Originally published by Australia Mining.
25.06.2026
Technology with the potential to improve ore processing has attracted fresh backing from Hancock Prospecting executive chair Gina Rinehart, continuing the mining billionaire’s recent run of investments.
Reports say Rinehart has invested $US50 million ($72 million) in California-based Lumitron Technologies, with the deal potentially increasing to $US100 million ($144 million) later this year.
The funding will help commercialise Lumitron’s HyperView high-energy electron beam technology, which is designed for high-resolution medical imaging and cancer radiotherapy but also has potential applications in mining.
The technology is understood to help provide a clearer picture of ore before it reaches the processing plant by analysing the shape and density of minerals, identifying contaminants and helping operators selectively recover higher-value material.
The goal is to improve recovery rates while reducing energy use and processing costs.
Co-founded by Australian entrepreneur Maurie Stang, Lumitron is developing an electron beam capable of producing images with significantly higher resolution than conventional X-ray systems.
A Hancock Prospecting representative will also join the company’s board as part of the investment.
The deal continues a string of high-profile investments by Australia’s richest person, following Hancock’s reported $US1 billion ($1.44 billion) investment in SpaceX earlier this month and its increased backing of Arafura Rare Earths, where the company recently committed about $85 million to lift its shareholding to 17.5 per cent.
