AustralianSuper raises stake in Pilbara Minerals

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)