Rio Tinto Looking for Lithium Deals as Demand and Prices Soar
- Company flags pursuit of acquisitions in key battery metal
- No. 2 miner says 50% of all car sales could be EVs by 2030
Lithium has been on a tear, surging more than 1,100% to a record in the past two years.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
Rio Tinto Group is actively looking for lithium acquisitions, predicting prices for the key raw material in electric-vehicle batteries will stay high for a “long period of time.”
The world’s second-biggest mining company is pursuing “organic and M&A growth opportunities” in the sector, it said in a document published Tuesday.