On the 9th, global mining giant Rio Tinto announced that it will acquire Arcadium Lithium in an all-cash deal valued at $6.7 billion. This move is expected to make Rio Tinto the world’s third-largest lithium producer.
　　In a statement, Rio Tinto said that, under the transaction agreement reached by the two companies, Rio Tinto will acquire Arcadium Lithium at a price of US$5.85 per share. The transaction has been unanimously approved by the boards of directors of both companies and is expected to be completed by mid-2025.
　　Rio Tinto CEO Jacob Stausholm said that the acquisition of Albemarle Lithium represents an important step in Rio Tinto’s long-term strategy to build a world-class lithium business on top of its existing aluminum and copper operations, thereby providing the materials needed for the energy transition.
　　According to local media reports, this deal will make Rio Tinto the world’s third-largest lithium producer, behind only U.S.-based Albemarle Corporation and Chile’s Sociedad Química y Minera de Chile.
　　Arcadium Lithium is a globally leading producer of lithium chemicals, formed through the merger of U.S.-based Livent Corporation and Australian company Alchem.