British-Australian multinational mining and metals company Rio Tinto and global lithium producer Arcadium Lithium, headquartered in Ireland, have made an agreement under which Rio Tinto will acquire Arcadium in an all-cash transaction for $5.85 per share.
The deal will bring Arcadium’s lithium business into Rio Tinto’s portfolio of commodities that include aluminum, copper, high-grade iron ore and lithium.
Arcadium’s lithium chemicals manufacturing and extraction processes range from hard-rock mining to conventional brine extraction and direct lithium extraction. Its annual lithium production capacity, which is expected to more than double by the end of 2028, is 75,000 metric tonnes (82,673 tons) of lithium carbonate equivalent. The company, which has approximately 2,400 employees, has projects underway in Argentina, Australia, Canada, China, Japan, the UK and the US.
“Arcadium Lithium is an outstanding business today and we will bring our scale, development capabilities and financial strength to realize the full potential of its Tier 1 portfolio,” said Rio Tinto CEO Jakob Stausholm.
Source: Rio Tinto
