Hyperdrive
Rio Tinto Makes Approach to Buy Lithium Producer Arcadium
- US miner’s portfolio spans Argentina, China, Canada, Australia
- Shares in the company had more than halved this year
Arcadium Lithium’s Sal de Vida project in Catamarca, Argentina.
Source: Arcadium LithiumThis article is for subscribers only.
Rio Tinto Group has made an approach for Arcadium Lithium Plc, the two sides said on Monday, confirming the latest takeover proposal in a sector turning its attention back to growth, as major miners scramble to increase their exposure to energy-transition metals.
The world’s second-largest miner did not provide the financial details of its preliminary move but, if it goes ahead, a swoop for the battery-metal producer could shape up to be its most significant acquisition in well over a decade.