Reported about 6 hours ago
Rio Tinto has announced its acquisition of American lithium company Arcadium for $6.7 billion, positioning itself as a leading producer of lithium, crucial for electric vehicle and mobile device manufacturing. The deal comes as Rio seeks to diversify its portfolio and enhance its status in the low-carbon material market, gaining access to lithium mines and processing facilities in multiple countries. This strategic move aims to capitalize on Arcadium's assets and strengthen Rio's growth in response to the evolving energy sector.
Source: YAHOO