Discover the Incredible Story of Tim Goyder: From Mining Lifer to Billionaire

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Tim Goyder, Australia’s newest billionaire, worked his way up from humble beginnings to become one of the richest people in the country.

From his early days as a miner, Tim Goyder saw potential and opportunity wherever he looked—mainly when it came to mining. After receiving a buyout offer of $5.5 billion from Albemarle, a lithium giant based in New York, the shares of Liontown Resources, a lithium hopeful owned by Goyder, rose by 69%. This resulted in Goyder’s stake increasing to $844 million.

After revealing that the Gonneville deposit located near Perth had expanded by 50 per cent, Chalice, a company exploring nickel sulphide, saw a rise in their shares by 9 per cent, resulting in Goyder’s stake in the company being valued at over $226 million. 

Goyder, who has a long career in the mining industry, has always been involved in multiple projects. He found his first mining site in his early 20s near Eneabba, the small town he grew up in, located 278 kilometres north of Perth.

“To increase your chances of winning the lottery, you need to have many tickets,” Mr Goyder said before the takeover interest in Liontown eventually made him a paper billionaire.

Goyder, the cousin of Richard Goyder – former Wesfarmers boss and Qantas chairman – has been in the business for quite some time. His first deals involved the founders of a dynasty that now has eight Financial Review Rich Listers – Lang Hancock and Peter Wright, who were both prospectors.

During his early career, Goyder could not achieve windfall profits like the ones from Hope Downs. He relied on his business with Grimwood Davies, a drilling contractor, which he later sold to Boart Longyear in 2007.

Goyder acknowledges that he examined land, which was later claimed by Andrew Forrest and used for the Fortescue Metals Group, leading to Mr Forrest becoming the wealthiest person in the country.

“You pass up more than you get right,” Goyder said.

“As you pick up the newspaper and observe the plethora of billionaires, you may believe that accumulating wealth is effortless; however, it is important to recognise the numerous individuals struggling to make ends meet.”

Before Goyder found success with Liontown, he had experience mining for gold in Eritrea and mining for spodumene in Canada.

“It is rare for people to discover something significant in their entire career, but we feel very fortunate and lucky to have found something valuable,” said Goyder.

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