An announcement from Rio Tinto ( (GB:RIO) ) is now available.
Rio Tinto has successfully acquired Arcadium Lithium for $6.7 billion, positioning itself as a major player in the lithium market. This acquisition is expected to significantly boost Rio Tinto’s capacity to produce lithium carbonate equivalent, aiming for over 200 thousand tonnes per year by 2028. The move is part of Rio Tinto’s strategy to strengthen its supply of energy transition materials, leveraging Arcadium’s assets and capabilities to drive growth and deliver value to stakeholders. The acquisition will be funded through existing financial resources, and Arcadium’s shares will be delisted from major stock exchanges.
More about Rio Tinto
Rio Tinto is a leading global mining group that focuses on finding, mining, and processing the Earth’s mineral resources. The company operates in various sectors including iron ore, aluminium, copper, and now lithium, following its recent acquisition. With a strong emphasis on energy transition materials, Rio Tinto aims to enhance its position in the global market by expanding its lithium production capabilities.
YTD Price Performance: 3.83%
Average Trading Volume: 2,829,195
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £81.99B
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