Rio Tinto Group is a British-Australian multinational company and the world’s second-largest metals and mining corporation. It was founded in 1873 and is headquartered in London, England, and Melbourne, Australia.
According to reports, Rio Tinto has announced plans to acquire Arcadium Lithium in a deal valued at $6.7 billion USD, positioning it as the world’s third-largest lithium producer.
The report further mentions that Rio would gain access to lithium mines, processing facilities, and deposits in Argentina, Australia, Canada, and the United States. The deal is expected to close in mid-2025.
Arcadium Lithium is the third-largest lithium producer in the world that emerged from a merger of Allkem and Livent. It focuses on lithium exploration, development, and production. Lithium is a metal used in electric vehicles, mobile devices, and other renewable energy systems.
