Rio Tinto said it has approached Arcadium Lithium about a potential acquisition. The approach is non-binding.
Reuters noted that the deal would strengthen Rio’s rise to become one of the largest producers of lithium behind Albemarle and SQM. The news agency exclusively reported that Arcadium could be valued at $4-$6 billion or higher.
Arcadium has extensive lithium reserves across four continents. It has operating resources in Argentina and Australia and downstream conversion assets in the U.S., China, Japan and the U.K. It also has multiple ongoing development projects in Argentina (greenfield and brownfield) and Canada (greenfield) to increase production capabilities.