Philadelphia-based Arcadium could be valued between $4 billion to $6 billion or higher, a source said.
Jakob Stausholm, chief executive officer of Rio Tinto Ltd., during a Bloomberg Television interview in New York, US, on Thursday, Sept. 26, 2024., three sources with direct knowledge of the negotiations said, a deal that would make Rio the third-largest producer of the electric vehicle battery metal., one of the sources said. An offer is expected to come in the near future, according to the second source. Talks are ongoing and may not necessarily result in a deal, the sources said.
By buying Arcadium, Rio would gain access to lithium mines, processing facilities and deposits across four continents to fuel decades of growth, as well as a customer base that includesThe Anglo-Australian mining company is already one of the world's largest producers of copper - used to make wiring, construction equipment, electronics and other devices - as well as iron ore and other metals.
Arcadium believes it is unlikely Rio will ever be able to develop the Serbian project, the second source said.No company has commercially launched a DLE process without evaporation ponds, but Arcadium has successfully been using DLE since the 1990s with ponds in Argentina and its engineers are widely seen as global experts.merger of U.S.-based Livent and Australia-based Allkem"Arcadium offers Rio the full package," Scotiabank analysts said on Sept.
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