SYDNEY, Oct 6 Reuters Australian billionaire Gina Rinehart raised her stake again in lithium producer Liontown Resources, giving her enough leverage to possibly block U.S. miner Albemarle Corp39;s 4.3 billion proposed takeover of the company.

Australia39;s richest person raised her stake to 16.7, becoming Liontown39;s largest shareholder, her company Hancock Prospecting said on Friday.

Hancock welcomes the opportunity to participate in the Kathleen Valley project as a shareholder, and have an influence on the company39;s overall future direction including where decisions are to be made by shareholders, the company added.

Liontown39;s Kathleen Valley lithium project in Western Australia is regarded as one of the world39;s most promising deposits of the metal used in electric vehicles and smartphones. The developer has already agreed to supply U.S. car giant Ford with the battery raw material

Rinehart has not said publicly whether she supports or opposes the takeover bid and a spokesperson declined to comment on whether the increased stake would be used to block Albemarle39;s bid.

But she has steadily built a position in Liontown since early September, when Albemarle, the world39;s biggest lithium producer, was granted access to Liontown39;s books after revising a takeover proposal.

Liontown and Albemarle declined to comment on the increased Hancock stake.

Albemarle39;s latest bid of A3 1.91 per share, made through a scheme of arrangement, requires 75 support from…