Reported about 22 hours ago
JPMorgan Chase has acquired a 5.36% stake in the Australian mining company Rio Tinto on behalf of its clients, as revealed in a recent exchange filing. This move follows Rio Tinto's recent $6.7 billion acquisition of U.S.-based Arcadium Lithium, aimed at diversifying its portfolio toward critical minerals and battery metals like lithium. To finance this acquisition, Rio Tinto plans to raise $9 billion through U.S. investment-grade bonds.
Source: YAHOO