Quote:
Rio decided not to proceed with an offer for Nutrien's 32 percent stake in Santiago-based SQM after studying information in a data room, according to the people. Other strategic bidders remain interested in the holding, one of the people said.
Nutrien's interest in SQM is worth about $US5 billion.
Nutrien, the Canadian firm formed through Potash Corp's recent merger with Agrium, is selling the holding to meet a condition imposed by Indian regulators when approving that combination. Rio last year sought advice from firms including Credit Suisse on a possible bid for the stake, people familiar with the matter said in November.
Lithium is a key element used in electric-vehicle batteries, and prices have tripled since 2015. BHP Billiton, the world's largest mining company, in September approved a $US43 million project to start producing nickel sulfate, a product needed for lithium-ion batteries. Glencore plans to double its production of cobalt in the next two years, another key battery component.
Representatives for Rio Tinto, Nutrien and SQM declined to comment.
Quote: Rio decided not to proceed with an offer for Nutrien's 32...
Add PLS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.99 |
Change
0.010(0.34%) |
Mkt cap ! $9.000B | |||
| Open | High | Low | Value | Volume |
| $2.93 | $3.01 | $2.89 | $104.7M | 35.12M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 11874 | $2.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.99 | 65336 | 3 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |