I don't get why Rio acquired Rincon. Seems to be a dud, but perhaps there was a strategy that is beyond me.
Livent on the other hand makes alot of sense for Rio. It gives them pole position in Hombre Muerto, but more significantly the downstream processing capability.
I don't see HMW being a primary target for Rio, but it could be a subsequent acquisiton to Livent. Particularly if they are looking for higher quality brines to increase their upstream capacity.
In any case, Galan is ripe for acquisition and at current enterprise value its a steal.
I don't get why Rio acquired Rincon. Seems to be a dud, but...
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