With BHP’s $9.6bn buyout of OZ Minerals finalised earlier this month, some in the market are questioning what next when it comes to major miners embarking on mergers and acquisitions.
One target that could be on Rio Tinto’s radar is the lithium miner Allkem. Its market value is $7.2bn and the $164bn miner Rio could make a play, according to a source.
Attractive to Rio is the fact that it operates in the lithium space – Rio Tinto is known to have been keen to further invest in lithium for some time and there were sources suggesting last year it was looking at targets.
Also, it operates in South America, a jurisdiction that Rio is familiar with.
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