It is a {photograph} of a Rio Tinto mining helmet taken on 2 Jun. 2020.
Aaron Bunch | Getty Pictures
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 had been disclosed. Rio Tinto mentioned that there isn’t any 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, instructed CNBC that Rio Tinto had been ready for a lithium downturn in an effort to pursue M&A that may ship it a world scale lithium division.
“In the end, Rio Tinto solely needed to play within the lithium area in the event that they had been going to be a high 3 producer,” he instructed CNBC by way of electronic mail.
It is a breaking information story, please verify again later for extra.
