UPDATE 1-Australia’s Liontown raises $713 mln for Kathleen Valley lithium project

Australia's Liontown Resources said on Thursday it secured A$1.13 billion ($712.69 million) in funding for its flagship Kathleen Valley lithium project via a debt financing package and a fully underwritten equity raise. Liontown entered a trading halt on Monday to raise funding for the project after U.S.-based miner Albemarle walked away from a A$6.6 billion buyout offer. Albemarle withdrew its indicative proposal citing "growing complexities" after Hancock Prospecting, an iron ore miner controlled by Australia's richest person, Gina Rinehart, raised its stake to 19.9% of Liontown.