Rio Tinto to Acquire Arcadium Lithium for $6.7 Billion, Becoming Top Three Producer

Oct 15, 2024, 09:30 PM

Rio Tinto has announced a significant move in the lithium market by agreeing to acquire Arcadium Lithium for $6.7 billion. This acquisition marks Rio Tinto's largest purchase since its 2007 acquisition of Alcan. The deal positions Rio Tinto among the top three lithium producers globally. Shareholders have given cautious backing to the acquisition, which is expected to pave the way for more lithium purchases in the future. CRU Group VP North America Frank Nikolic discussed the deal and the lithium market on Yahoo Finance.