British mining and metals group Rio Tinto is planning to acquire lithium producer Arcadium. According to media reports, the company wants to take advantage of the current low lithium prices to increase its market share in the growing electric vehicle sector.
Market value of up to six billion dollars
Estimates claim Arcadium could be valued at a minimum of four and a maximum of six billion US dollars. A takeover would make Rio Tinto one of the worldʼs largest lithium producers, behind rivals such as Albemarle and SQM. Arcadium has lithium assets in several countries, including Argentina, Canada, Australia, and the United States. Analysts estimate that Rio Tinto could account for around ten percent of global lithium chemical production by 2030.
Sources:
https://www.reuters.com/markets/deals/lithium-miner-arcadium-confirms-rio-tinto-takeover-approach-2024-10-06/
https://www.businesswire.com/news/home/20241006892633/en/
