This can be a {photograph} of a Rio Tinto mining helmet taken on 2 Jun. 2020.
Aaron Bunch | Getty Photographs
The world’s second-largest miner Rio Tinto expressed curiosity in buying U.S. lithium producer Arcadium, the 2 firms confirmed in separate statements on Monday.
No monetary specifics have been disclosed. Rio Tinto mentioned that there is no such thing as a certainty that any transaction shall be agreed to.
Arcadium Lithium’s Australian-listed shares jumped over 42% in early Monday commerce.
This transfer comes as mining firms search to safe important minerals for the worldwide vitality transition.
Saul Kavonic, head of vitality analysis at MST Marquee, informed CNBC that Rio Tinto had been ready for a lithium downturn with the intention to pursue M&A that may ship it a world scale lithium division.
“Finally, Rio Tinto solely wished to play within the lithium house in the event that they have been going to be a prime 3 producer,” he informed CNBC by way of e mail.
This can be a breaking information story, please verify again later for extra.
