WELL THIS IS INTERESTING....? DJ Rio Tinto in Talks to Acquire Arcadium Lithium -- 2nd Update
RIO $121.80 -$1.88(-1.5%) $121.77$121.79
07 Oct 2024 11:47:24
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By Rhiannon Hoyle
Mining giant Rio Tinto is in talks to buy New York-listed lithium producer Arcadium Lithium, its latest attempt to establish a foothold in the fast-growing market for a critical mineral used to power electric cars.
Rio Tinto wants to reshape its business to produce more of the metals it expects will be in demand amid huge growth in clean-energy technologies globally. Today, the world's second-biggest miner by market value relies on steel ingredient iron ore for the bulk of its profits.
Lithium has been one of Rio Tinto's priorities for growth, with the miner forecasting demand will surge in the decade ahead because of lithium's role not only in electric vehicles but for giant batteries that can release electricity into the power grid when customers need it.
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WELL THIS IS INTERESTING....?DJ Rio Tinto in Talks to Acquire...
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