Rio Tinto Group (RIO)
After hours:
- Reuters
Arcadium's vast lithium portfolio lures Rio at the right time
From northern Quebec's tundra to Argentina's Andes Mountains and the plateaus of Western Australia, Arcadium's lithium portfolio, brought together over almost 40 years, has lured Rio Tinto as it bids to be a top producer of the EV battery metal at an advantageous point in the market cycle. Arcadium's mix of active mines, lithium deposits filled with decades of supply, and some of the industry's most advanced processing facilities would complement Rio's output of copper, iron ore and other critical minerals and help the Anglo-American mining giant expand its footprint in the global energy transition. So far the market is working in Rio's favor, as plunging lithium prices since January, pressed in part by lower-than-expected electric-vehicle sales and Chinese oversupply, have stymied Arcadium's growth plans and forced it to mothball some operations just to survive.
- Reuters
Factbox-Arcadium deal could power Rio Tinto's entry into lithium supplier big league
It runs the only producing lithium mine in North America, and also has operations in Chile and Western Australia. It holds joint ventures in Australia with Mineral Resources at the Wodgina mine and with Tianqi Lithium at the Greenbushes mine. In 2023, it produced 39,000 tons of lithium metal.
- Zacks
Rio Tinto Confirms Acquisition Offer for Arcadium Lithium
RIO confirms that it is in discussions to acquire Arcadium Lithium in a bid to grow its lithium portfolio.
