Rio Tinto to acquire Arcadium Lithium for $6.7 billion

LONDON, October 9, 2024 – Rio Tinto will acquire Arcadium Lithium in a deal valued at USD 6.7 billion, the global mining giant announced on Wednesday.

Describing Arcadium as a “world-class, complementary lithium business,” Rio Tinto said the deal would establish it as a global leader in energy transition commodities.

The company also highlighted Arcadium’s world-class capabilities in lithium chemicals manufacturing and extraction processes, including hard-rock mining, conventional brine extraction and direct lithium extraction.

Arcadium has operating resources in Argentina and Australia and downstream conversion assets in the USA, China, Japan and the UK.

Lithium is a critical mineral in the manufacture of batteries and electric vehicles, and is expected to see surging demand in the coming years.

“Arcadium Lithium is an outstanding business today and we will bring our scale, development capabilities and financial strength to realise the full potential of its Tier 1 portfolio,” Rio Tin to CEO Jakob Stausholm said.

Photo of Arcadium’s Olaroz project in Argentina courtesy of Arcadium.

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